USD/CHF’s rally from 0.76903 resumed by breaking through 0.8205/13 resistance zone. Intraday bias remains on the upside. Next near term target is 100% projection of 0.7760 to 0.8205 from 0.7948 at 0.8393. On the downside, below 0.8198 minor support will turn intraday bias neutral first.
In the bigger picture, the solid break of 38.2% retracement of 0.9200 (2025 high) to 0.7603 at 0.8213 indicate that USD/CHF is at least reversing the medium term trend. Focus is now on 0.8332 support turned resistance (2023 low) for confirmation. Firm break there will target 61.8% retracement at 0.8590. For now, this will remain the favored case as long as 0.9748 support holds.
