Mon, May 29, 2023 @ 03:04 GMT

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9915; (P) 0.9928; (R1) 0.9946; More…..

Intraday bias in USD/CHF remains neutral for consolidation above 0.9881 temporary low. Deeper decline is in favor as long as 1.0002 minor resistance holds. Break of 0.9860 near term support will extend the whole fall from 1.0342 towards 100% projection of 1.0342 to 0.9860 from 1.0169 at 0.9687. However, break of 1.0002 will argue that fall from 1.0169 is finished and will turn bias back to the upside for this resistance instead.

In the bigger picture, USD/CHF is staying in medium term sideway pattern between 0.9443/1.0342. In any case, decisive break of 1.0342 resistance is needed to confirm underlying strength. Otherwise, we’ll stay neutral in the pair first. In case of another fall, we’d expect strong support from 0.9443/9548 support zone.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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