Daily Pivots: (S1) 0.8105; (P) 0.8130; (R1) 0.8148; More….
Intraday bias in USD/CHF stays on the upside for the moment. Rise from 0.7871 is at least correcting the fall from 0.9200. Further rally should be seen to 38.2% retracement of 0.9200 to 0.7871 at 0.8379 next. On the downside, below 0.8086 minor support will turn intraday bias neutral and bring consolidations first.
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.
