Daily Pivots: (S1) 0.7885; (P) 0.7912; (R1) 0.7951; More….
Intraday bias in USD/CHF remains neutral at this point. While rebound from 0.7828 might extend higher, outlook will stay bearish as long as 0.8006 resistance holds. On the downside, break of 0.7828 will resume larger down trend to 61.8% projection of 0.8475 to 0.7871 from 0.8170 at 0.7797.
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 0.8332 support turned resistance holds.
