Sat, Jun 10, 2023 @ 21:32 GMT

USD/CHF Mid-Day Outlook

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

Intraday bias in USD/CHF is turned neutral with a temporary top formed at 0.9964. Some consolidations could be seen. But downside should be contained by 4 hour 55 EMA (now at 0.9755). Break of 0.9964 will target 1.0063 high. Decisive break there will confirm resumption of larger up trend.

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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