Daily Pivots: (S1) 0.7664; (P) 0.7695; (R1) 0.7722; More….
Intraday bias in USD/CHF stays neutral as consolidation from 0.7603 is extending. Strong rebound could be seen, but upside should be limited by 55 D EMA (now at 0.7862). On the downside, firm break of 0.7603 will resume larger down trend to 0.7382 projection level next.
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.
. On the downside, firm break of 0.7603 will resume larger down trend to 0.7382 projection level next.){kind=link}