Daily Pivots: (S1) 0.8180; (P) 0.8209; (R1) 0.8234; More….
Immediate focus is now on 0.8156 support in USD/CHF with current fall. Firm break there would resume the decline from 0.8475 to retest 0.8038 low. Strong support could be seen there to bring rebound to extend the near term consolidation pattern. On the upside, above 0.8247 resistance will turn bias to the upside for 0.8346 resistance first.
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 0.8696) holds. Sustained break of 0.8079 will target 100% projection at 0.7382.
