USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9280; (P) 0.9327; (R1) 0.9356; More….

USD/CHF’s fall from 0.9459 resumed by taking out 0.9259 temporary low. Intraday bias is back on the downside. Further fall would be seen towards 0.9149 support next. On the upside, above 0.9380 resistance will flip bias back to the upside for 0.9459 resistance instead.

In the bigger picture, medium term outlook will be neutral at best as long as 0.9471 resistance holds. Larger down trend could still extend through 0.8756 (2021 low). However, firm break of 0.9471 will argue that whole down trend form 1.0342 (2016 high), has completed with waves down to 0.8756. A medium term up trend should be set up to target 1.0237/0342 resistance zone.

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