Daily Pivots: (S1) 0.9024; (P) 0.9052; (R1) 0.9095; More…
USD/CHF’s rally fro 0.8374 is still in progress and intraday bias stays on the upside. Firm break of 61.8% projection of 0.8374 to 0.8956 from 0.8735 at 0.9095 will pave the way to 0.9223 ley resistance next. On the downside, below 0.9022 minor support will turn intraday bias neutral first. But outlook will stay bullish as long as 0.8956 resistance turned support holds.
In the bigger picture, price actions from 0.8332 (2023 low) are currently seen as a medium term corrective pattern, with rise from 0.8374 as the third leg. Overall outlook will continue to stay bearish as long as 0.9223 resistance holds. Break of 0.8332 low is in favor at a later stage when the consolidation completes.
