Daily Pivots: (S1) 0.9658; (P) 0.9678; (R1) 0.9706; More…
A temporary top is formed at 0.9710 as USD/CHF retreats. Intraday bias is turned neutral first. Further rise is still expected as long as 0.9576 support holds. Above 0.9710 will extend recent rally to 0.9900 fibonacci level next. However, break of 0.9576 will indicate short term topping and turn bias to the downside for 0.9432 support and possibly below.