Daily Pivots: (S1) 0.9032; (P) 0.9077; (R1) 0.9102; More…
Intraday bias in USD/CHF remains neutral and outlook is unchanged. Intraday bias stays neutral for consolidations below 0.9200. Further rally is expected with 0.9007 support intact. On the upside, decisive break of 0.9223 will carry larger bullish implications. However, break of 0.9007 will turn bias back to the downside for deeper pull back to 55 D EMA (now at 0.8950).
In the bigger picture, as long as 0.9223 resistance holds, price actions from 0.8332 (2023 low) are seen as a medium term corrective pattern. That is, long term down trend is in favor to resume through 0.8332 at a later stage. However, sustained break of 0.9223 will be an important sign of bullish trend reversal.
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