Daily Pivots: (S1) 0.8866; (P) 0.8882; (R1) 0.8898; More….
Intraday bias in USD/CHF remains on the upside and outlook is unchanged. Decisive break of 0.8891 resistance will confirm resumption of rally from 0.8332. Next target is 61.8% projection of 0.8550 to 0.8884 from 0.8728 at 0.8934. On the downside, below 0.8818 minor support will turn intraday bias neutral and bring consolidations. But outlook will stay bullish as long as 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.
