Daily Pivots: (S1) 0.7864; (P) 0.7915; (R1) 0.7941; More….
Sideway trading continues in USD/CHF and intraday bias remains neutral. Also, risk stays on the downside with 55 4H EMA (now at 0.7948) intact. Firm break of 0.7860 support will argue that larger down trend is ready to resume through 0.7828 low. Nevertheless, sustained break of 55 4H EMA will bring stronger rebound towards 0.8039 resistance. Overall, price actions from 0.7828 are seen as a corrective pattern, which could still extend.
In the bigger picture, price actions from 0.7828 are seen as a correction. Larger down trend from 1.0342 (2017 high) is still in progress. Break of 0.7828 will target 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).
 intact. Firm break of 0.7860 support will argue that larger down trend is ready to resume through 0.7828 low. Nevertheless, sustained break of 55 4H EMA will bring stronger rebound towards 0.8039 resistance. Overall, price actions from 0.7828 are seen as a corrective pattern, which could still extend.){kind=link}