Daily Pivots: (S1) 0.9130; (P) 0.9145; (R1) 0.9174; More….
Intraday bias in USD/CHF stays on the upside at this point. Current rally should target 0.9439 resistance next. On the downside, below 0.9117 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.
In the bigger picture, sustained trading above 0.9146 cluster resistance (38.2% retracement of 1.0146 to 0.8551 at 0.9160) will argue that rise from 0.8551 is reversing whole down trend from 1.0146. Further rally would then be seen to 61.8% retracement at 0.9537 and above. For now, this will be the favored case as long as 55 D EMA (now at 0.8905) holds.
