Daily Pivots: (S1) 0.7645; (P) 0.7666; (R1) 0.7704; More….
USD/CHF’s recovery suggests that fall from 0.7816 has completed, and the corrective pattern from 0.7603 is extending with another rising leg. Sustained break of 55 4H EMA (now at 0.7730) will bring stronger rally to 0.7816 resistance. Though, upside should be limited by 55 D EMA (now at 0.7874). On the downside, below 0.7627 will bring retest of 0.7603 low.
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.
 will bring stronger rally to 0.7816 resistance. Though, upside should be limited by 55 D EMA (now at 0.7874). On the downside, below 0.7627 will bring retest of 0.7603 low.){kind=link}