Daily Pivots: (S1) 0.9792; (P) 0.9806; (R1) 0.9817; More…
USD/CHF’s fall continues today and reaches as low as 0.9778 so far. Intraday bias remains on the downside for retesting 0.9659 low. On the upside, break of 0.9876 resistance is needed to indicate completion of the fall form 1.0023. Otherwise, near term outlook will stay cautiously bearish in case of recovery.
In the bigger picture, medium term outlook remains neutral as USD/CHF is staying in range of 0.9659/1.0237. In any case, decisive break of 1.0237 is needed to indicate up trend resumption. Otherwise, more sideway trading would be seen with risk of another fall. Meanwhile, break of 0.9695 support will target 0.9541 support instead.
