Daily Pivots: (S1) 0.9075; (P) 0.9106; (R1) 0.9151; More….
Intraday bias in USD/CHF stays on the upside as rise form 0.8551 is extending to 0.9146/60 cluster resistance. Decisive break there will carry larger bullish implication, and target 0.9439 resistance next. On the downside, break of 0.8930 support is needed to confirm short term topping. Otherwise, outlook will stay bullish in case of retreat.
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. However, decisive break of 0.9146/60 will indicate trend reversal, and target 61.8% retracement at 0.9537.
