Daily Pivots: (S1) 0.9310; (P) 0.9388; (R1) 0.9488; More…
USD/CHF reaches as low as 0.9288 so far and intraday bias remains on the downside. Current decline should now target next key fibonacci level at 0.9115. On the upside, above 0.9448 minor resistance will turn intraday bias neutral and bring consolidations first.
In the bigger picture, the strong break of 0.9420 support suggests that fall from 1.0342 is developing into a medium term down trend. Deeper fall should be seen to 100% projection of 1.0342 to 0.9420 from 1.0037 at 0.9115.
