Tue, Dec 06, 2022 @ 16:49 GMT

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9938; (P) 0.9971; (R1) 1.0011; More

USD/CHF’s rally resumed after brief consolidation and intraday bias is back on the upside. Decisive break of 1.0063 will confirm larger up trend resumption. Next target is 1.0283 projection level. On the downside, below 0.9914 minor support will turn neutral bias neutral again first. But outlook will stay bullish as long as 0.9779 support holds.

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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