USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9832; (P) 0.9899; (R1) 1.0006; More

Intraday bias in USD/CHF stays on the upside, and further rise would be seen to retest 1.0063 high. Decisive break there will confirm resumption of larger up trend. On the downside, below 0.9802 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

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.

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