Intraday bias in USD/CHF remains on the downside. Fall from 0.8394 would target 38.2% retracement of 0.7603 to 0.8394 at 0.8092. On the upside, above 0.8216 will turn bias neutral first. But risk will stay on the downside as long as 0.8312 resistance holds, in case of recovery.
In the bigger picture, rise from 0.7603 should at least be reversing the medium term trend. Focus is 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.
