USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.8846; (P) 0.8882; (R1) 0.8905; More….

USD/CHF’s rally resumed after drawing support from 55 4H EMA, and breaks through 0.8917. Intraday bias is back on the upside. Next target is 100% projection projection of 0.8550 to 0.8884 from 0.8728 at 0.9062. On the downside, below 0.88338 minor support will turn intraday bias neutral again. But still, outlook will remain bullish as long as 0.8728 support holds.

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.

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