Sun, Aug 07, 2022 @ 22:35 GMT

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9217; (P) 0.9240; (R1) 0.9273; More….

Intraday bias remains mildly on the upside at this point. Sustained break of 61.8% retracement of 0.9471 to 0.8925 at 0.9262 will pave the way to retest 0.9471 resistance. On the downside, break of 0.9141 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, medium term outlook is currently neutral with focus 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. But, rejection by 0.9471 again will revive bearishness for another fall through 0.8756 low.

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