Daily Pivots: (S1) 0.8191; (P) 0.8212; (R1) 0.8231; More….
Intraday bias in USD/CHF is turned neutral with current recovery. For now, rise will stay on the downside as long as 0.8475 resistance holds, in case of recovery. Below 0.8187 will target 0.8038 low. Firm break there will resume larger down trend to 61.8% projection of 0.9200 to 0.8038 from 0.8475 at 0.7757 next.
In the bigger picture, long term down trend from 1.0342 (2017 high) is still in progress and met 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.8079 already. In any case, outlook will stay bearish as long as 55 W EMA (now at 0.8713) holds. Sustained break of 0.8079 will target 100% projection at 0.7382.
