Daily Pivots: (S1) 0.7746; (P) 0.7767; (R1) 0.7782; More….
Intraday bias in USD/CHF remains neutral for the moment. Initial bias stays neutral this week first. Another rise might be seen but upside should be capped by 55 D EMA (now at 0.7890) to complete the corrective bounce fro 0.7603. On the downside, below 0.7713 minor support will bring retest of 0.7603. Firm break there will resume larger down trend to 0.7382 projection level next. However, sustained break of 55 D EMA will suggest near term reversal and target 0.8039 resistance for confirmation.
In the bigger picture, larger 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 55 W EMA (now at 0.8152) holds.
 to complete the corrective bounce fro 0.7603. On the downside, below 0.7713 minor support will bring retest of 0.7603. Firm break there will resume larger down trend to 0.7382 projection level next. However, sustained break of 55 D EMA will suggest near term reversal and target 0.8039 resistance for confirmation.){kind=link}