Daily Pivots: (S1) 0.9083; (P) 0.9099; (R1) 0.9129; More…
Intraday bias in USD/CHF remains on the upside for 0.9200/9223 resistance zone. Decisive break there will carry larger bullish implication. Next near term target will be 100% projection of 0.8735 to 0.9200 from 0.8964 at 0.9429. On the downside, below 0.9114 minor support will turn intraday bias neutral again first. But outlook will stay bullish as long as 0.8964 support holds, in case of retreat.
In the bigger picture, decisive break of 0.9223 resistance will argue that whole down trend from 1.0342 (2017 high) has completed with three waves down to 0.8332 (2023 low). Outlook will be turned bullish for 1.0146 resistance next. Nevertheless, rejection by 0.9223 will retain medium term bearishness for another decline through 0.8332 at a later stage.