Daily Pivots: (S1) 0.8960; (P) 0.8983; (R1) 0.9011; More….
Intraday bias in USD/CHF remains neutral at this point. On the upside, firm break of 0.9000 resistance will confirm short term bottoming at 0.8886. Intraday bias will be turned back to the upside for stronger rebound, back towards 0.9243. On the downside, break of 0.8886 will resume the fall from 0.9243 to 61.8% retracement of 0.8551 to 0.9243 at 0.8815 next.
In the bigger picture, rebound from 0.8551 might be completed as a correction at 0.9243. In other words, larger fall from 1.0146 (2022 high) is possibly not over yet. Risk will now stay on the downside as long as 0.9243 resistance holds. Firm break of 0.8551 will confirm down trend resumption.
