Daily Pivots: (S1) 0.9425; (P) 0.9440; (R1) 0.9460; More….
Intraday bias in USD/CHF remains on the upside and breach of 0.9459 resistance suggests resumption of whole rise form 0.9149. Further rise should be seen to 61.8% projection of 0.8756 to 0.9471 from 0.9149 at 0.9591. On the downside, below 0.9408 minor support will delay the bullish case and turn intraday bias neutral first.
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 three waves down to 0.8756. A medium term up trend should be set up to target 1.0237/0342 resistance zone.
