Break of 0.8312 resistance indicates that USD/CHF’s corrective pullback has completed at 0.8125. Intraday bias is back on the upside for retesting 0.8394 first. Firm break there will resume whole rally from 0.7603 to 0.8590 fibonacci level. On the downside, below 0.8239 will delay the bullish case and turn bias neutral.
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.
