Daily Pivots: (S1) 0.9030; (P) 0.9058; (R1) 0.9087; More…
Intraday bias in USD/CHF remains on the downside as fall from 0.9200 short term top is in progress. Sustained break of 55 D EMA (now at 0.8959) will target 38.2% retracement of 0.8374 to 0.9200 at 0.8884 next. Firm break of 0.8884 will indicate bearish reversal. Nevertheless, break of 0.9107 will retain near term bullishness, and turn bias back to the upside for retesting 0.9200 high.
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.
 will target 38.2% retracement of 0.8374 to 0.9200 at 0.8884 next. Firm break of 0.8884 will indicate bearish reversal. Nevertheless, break of 0.9107 will retain near term bullishness, and turn bias back to the upside for retesting 0.9200 high.){kind=link}