Daily Pivots: (S1) 0.7622; (P) 0.7674; (R1) 0.7738; More….
USD/CHF is staying in consolidations above 0.7603 and intraday bias remains neutral. Outlook will stay bearish as long as 0.7792 resistance holds Break of 0.7603 will resume the larger down trend to 0.7382 projection level next. However, firm break of 0.7792 will turn bias back to the upside, for stronger rebound to 0.7860 support turned resistance.
In the bigger picture, larger down trend from 1.0342 (2017 high) is still in progress and resuming. 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 55 W EMA (now at 0.8184) holds.
