USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.8899; (P) 0.8917; (R1) 0.8931; More….

USD/CHF breached 0.8943 briefly but quickly settle back in established range. Intraday bias remains neutral first. More consolidations could be seen. But downside should be contained above 0.8743 support to bring another rally. Decisive of 0.8943 will extend the rise from 0.8551 to 0.9146 cluster resistance.

In the bigger picture, rebound from 0.8551 medium term bottom is currently seen as a correction to the downtrend from 1.0146 (2022 high). Further rally would be seen to 0.9146 cluster resistance (38.2% retracement of 1.0146 to 0.8551 at 0.9160). Strong resistance could be seen there to limit upside, at least on first attempt.

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