USD/CHF’s rise from 0.7760 resumed by breaking through 0.7926 and intraday bias is back on the upside. Fall from 0.8041 should have completed at 0.7760. Further rally should be seen to retest 0.8041 next. On the downside, below 0.7867 minor support will turn intraday bias neutral first.
In the bigger picture, as long as 55 W EMA (now at 0.8028) holds, fall from 0.9200 is expected to continue, as part of the larger down trend. Firm break of 0.7603 will target 100% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.7382.
