Intraday bias in USD/CHF is back on the upside with solid break of 0.8012. Firm break of 0.8041 will resume the rally from 0.7603 and target 100% projection 0.7603 to 0.841 from 0.7600 at 0.8198 next. For now, outlook will stay bullish as long as 0.7909 support holds, in case of retreat.
In the bigger picture, while a medium term bottom was formed at 0.7603, it’s still early to call for bullish trend reversal. As long as 38.2% retracement of 0.9200 (2025 high) to 0.7603 at 0.8213 holds, the larger down trend could still continue through 0.7603 at a later stage. However, firm break of 0.7603 will argue that the trend has reversed and turn focus to 0.8332 support turned resistance (2023 low) for confirmation.
