USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.8988; (P) 0.9029; (R1) 0.9061; More….

USD/CHF recovers today but stays below 0.9094 resistance. Intraday bias remains neutral and more consolidations would be seen. Deeper decline cannot be ruled out, but outlook will stay bullish as long as 0.8884 resistance turned support holds. On the upside, break of 0.9094 will resume larger rise from 0.8332 to 0.9243 key resistance.

In the bigger picture, price actions from 0.8332 medium term bottom as tentatively seen as developing into a corrective pattern to the down trend from 1.0146 (2022 high). Further rise would be seen as long as 0.8728 support holds. But upside should be limited by 0.9243 resistance, at least on first attempt.

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