USD/CHF is still extending consolidations below 0.8382 short term top. Intraday bias remains neutral at this point. Further rise is expected as long as 0.8182 support holds. Above 0.8382 will resume the whole rise from 0.7603. However, firm break of 0.8182 will indicate that larger scale corrective fall is underway.
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.
