USD/CHF’s rally resumed by breaking through 0.8262 and intraday bias is back on the upside. Current rise from 0.7760 should target 100% projection of 0.7760 to 0.8205 from 0.7948 at 0.8393. For now, risk will stay on the upside as long as 0.8182 support holds, in case of retreat.
In the bigger picture, rise from 0.7603 should at least be 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 of 0.9200 (2025 high) to 0.7603 at 0.8590. For now, this will remain the favored case as long as 0.7948 support holds.
