Daily Pivots: (S1) 0.9752; (P) 0.9794; (R1) 0.9830; More…
USD/CHF’s rise resumed after brief retreat and intraday bias remains on the upside for retesting 1.0063 high. Decisive break there will resume larger up trend. On the downside, break of 0.9754 will dampen the bullish view and turn bias neutral again first.
In the bigger picture, medium term up trend from 0.8756 (2021 low) is still in progress. Next target is 1.0342 (2016 high). Sustained break there will resume long term up trend from 0.7065 (2011 low). This will remain the favored case as long as 0.9471 resistance turned support holds.
