Daily Pivots: (S1) 0.9167; (P) 0.9209; (R1) 0.9232; More….
Intraday bias in USD/CHF remains neutral at this point. With 0.9272 resistance intact, further decline is in favor. Considering bearish divergence condition in daily MACD, firm break of 0.9162 support will argue that whole rise from 0.8925 has completed and target this support. On the upside, break of 0.9272 minor resistance will turn bias back to the upside for retesting 0.9367 instead.
In the bigger picture, the corrective structure of the rebound from 0.8925 argues that fall from 0.9471 is not completed yet. It could either be the second leg of pattern from 0.8756 (2021 low), or resuming larger down trend from 1.0237 (2018 high). We’d pay attention to the downside momentum of assess the odds later. But for now, medium term outlook will be neutral at best as long as 0.9471 resistance holds.
