Daily Pivots: (S1) 0.9056; (P) 0.9116; (R1) 0.9159; More….
No change in USD/CHF’s outlook as intraday bias stays mildly on the downside. Correction from 0.9243 would target 38.2% retracement of 0.8551 to 0.9243 at 0.8979. On the upside, though, above 0.9176 minor resistance will turn bias back to the upside for retesting 0.9243.
In the bigger picture, current development indicates 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 0.8967) holds, even in case of deep pullback.
