Daily Pivots: (S1) 0.8770; (P) 0.8796; (R1) 0.8834; More…
Intraday bias in USD/CHF is turned neutral with current recovery, and some consolidations would be seen above 0.8757 temporary low. Upside should be limited by 0.8911 support turned resistance to bring another fall. On the downside, below 0.8757 will target 61.8% retracement of 0.8374 to 0.9200 at 0.8690. Sustained break there will pave the way back to 0.8374 support.
In the bigger picture, rejection by 0.9223 key resistance keep medium term outlook bearish. That is, larger fall from 1.0342 (2017 high) is not completed yet. Firm break of 0.8332 (2023 low) will confirm down trend resumption.
