Daily Pivots: (S1) 0.8908; (P) 0.8930; (R1) 0.8959; More….
Intraday bias in USD/CHF remains neutral for the moment. Deeper retreat cannot be ruled out. But downside should be contained above 0.8743 support to bring another rally. On the upside, firm break of 0.8951 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.
