Daily Pivots: (S1) 0.9190; (P) 0.9214; (R1) 0.9260; More….
Intraday bias in USD/CHF remains on the upside at this point. Current rise from 0.8925 short term bottom should target 61.8% retracement of 0.9471 to 0.8925 at 0.9262. Sustained break there will pave the way to retest 0.9471 resistance. On the downside, below 0.9166 will turn intraday bias neutral first.
In the bigger picture, medium term bearishness is neutralized by strong break of 55 week EMA. Focus is back on 0.9471 resistance. Sustained break there will indicate completion of whole decline from 1.0342 (2016 high). Medium term outlook will be turned bullish for a test on 1.0342 high.
