Daily Pivots: (S1) 0.8991; (P) 0.9014; (R1) 0.9048; More….
Intraday bias in USD/CHF is turned neutral with 4H MACD crossed below signal line. On the upside, above 0.9047 will resume the rebound from 0.8886 to 0.9086 resistance. Sustained break there will pave the way back to 0.9342 resistance next. On the downside, however, below 0.8962 minor support will turn bias back to the downside for 0.8886 and possibly below.
In the bigger picture, outlook is mixed up by the deeper than expected pull back from 0.9243. Yet there was no follow through selling after hitting 0.8886. On the upside, break of 0.9243 resistance will revive the case of medium term bottoming at 0.8851, and turn outlook bullish. However, sustained break of 61.8% retracement of 0.8551 to 0.9243 at 0.8815 will argue that larger decline from 1.0146 is ready to resume through 0.8551 low.
