Daily Pivots: (S1) 0.9088; (P) 0.9115; (R1) 0.9135; More….
USD/CHF is extending the consolidation pattern from 0.9151 and intraday bias remains neutral. Deeper pull back cannot be ruled out. But further rally is expected as long as 0.8996 support holds. Firm break of 0.9151 will target 0.9243 key resistance next.
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. However, decisive break of 0.9243 will argue that the trend has already reversed and turn medium term outlook bullish.
