Daily Pivots: (S1) 0.8001; (P) 0.8038; (R1) 0.8061; More….
Intraday bias in USD/CHF is back on the downside with breach of 0.7999 temporary low. Fall from 0.8170 is resuming, and should target 0.7910 support first. Break there will bring retest of 0.7871 low. On the upside, however, break of 0.8073 will turn bias to the upside for 0.8103. Further break there will resume the rebound from 0.7871 through 0.8170 resistance.
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.
