Daily Pivots: (S1) 0.7961; (P) 0.7986; (R1) 0.8005; More…
USD/CHF’s fall from 0.8123 continues today and intraday bias remains on the downside for 0.7872 support. Firm break there will argue that larger down trend is ready to resume through 0.7828 low. On the upside, above 0.8010 minor resistance will turn intraday bias neutral again.
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 (2023 low).
