Daily Pivots: (S1) 0.8022; (P) 0.8050; (R1) 0.8090; More….
USD/CHF’s upside acceleration and break of 55 D EMA (now at 0.8105) argues that it’s at least correcting the fall from 09022. Intraday bias is staying on the upside for 38.2% retracement of 0.9200 to 0.7871 at 0.8379 next. On the downside, below 0.8037 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.
In the bigger picture, long term down trend from 1.0342 (2017 high) is still in progress. Next target is 100% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.7382. In any case, outlook will stay bearish as long as 0.8475 resistance holds.
 argues that it's at least correcting the fall from 09022. Intraday bias is staying on the upside for 38.2% retracement of 0.9200 to 0.7871 at 0.8379 next. On the downside, below 0.8037 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.){kind=link}