Daily Pivots: (S1) 0.9528; (P) 0.9621; (R1) 0.9694; More…
Intraday bias in USD/CHF remains mildly on the downside at this point. fall from 0.9868 is seen as a leg inside the corrective pattern from 1.0063. Deeper decline would be seen towards 0.9369 support. On the upside above 0.9653 minor resistance will turn intraday bias neutral first.
In the bigger picture, current development suggests that up trend from 0.8756 (2021 low) is still in progress. Sustained break of 1.0063 will target 100% projection of 0.9149 to 1.0063 from 0.9369 at 1.0283, and then 1.0342 (2016 high). For now, this will remain the favored case as long as 0.9369 support holds, even in case of deep pull back.
