Daily Pivots: (S1) 0.9275; (P) 0.9335; (R1) 0.9368; More….
USD/CHF is staying in consolidation below 0.9471 and intraday bias remains neutral first. Overall outlook will remain bullish as long as 0.9221 support holds. On the upside, sustained break of 61.8% retracement of 0.9901 to 0.8756 at 0.9464 will extend the rise from 0.8756 towards 0.9901 resistance next. However, on the downside, break of 0.9221 will bring deeper correction to 55 day EMA (now at 0.9189) and below.
In the bigger picture, fall from 1.0237 should have completed at 0.8756, on bullish condition in daily and weekly MACD. Current rally from 0.8756 should target 0.9901 resistance first. Break there will target 1.0237/0342 resistance zone in the medium term. This will now remain the favored case as long as 0.9044 resistance turned support holds.
