Daily Pivots: (S1) 0.8891; (P) 0.8908; (R1) 0.8930; More…
Intraday bias in USD/CHF stays mildly on the upside for the moment. Rebound from 0.8819 short term bottom could extend to 55 D EMA (now at 0.8967) and possibly above. But still, break of 0.9049 resistance is needed to confirm that fall from 0.9223 has completed. Otherwise, risk will stay on the downside for another fall at a later stage. On the downside, below 0.8870 will bring retest of 0.8819 low.
In the bigger picture, with 0.9243 resistance intact, medium term outlook in USD/CHF is neutral at best. For now, more sideway trading is likely between 0.8332/9243. However, firm break of 0.9243 will indicate larger bullish trend reversal.
 and possibly above. But still, break of 0.9049 resistance is needed to confirm that fall from 0.9223 has completed. Otherwise, risk will stay on the downside for another fall at a later stage. On the downside, below 0.8870 will bring retest of 0.8819 low.){kind=link}