Daily Pivots: (S1) 0.8795; (P) 0.8819; (R1) 0.8862; More….
Current strong rebound in USD/CHF argues that consolidation pattern from 0.8884 has completed with three waves to 0.8728. Intraday bias is mildly on the upside for 0.8891 resistance first. Firm break there will resume whole rise from 0.8332. Next target is 61.8% projection of 0.8550 to 0.8884 from 0.8728 at 0.8934. For now, this will remain the favored case as long as 0.8728 support holds, in case of retreat.
In the bigger picture, price actions from 0.8332 medium term bottom as seen as developing into a corrective pattern to the down trend from 1.0146 (2022 high). Further rise would be seen as long as 0.8555 support holds. But upside should be limited by 0.9243 resistance, at least on first attempt.
