USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9694; (P) 0.9749; (R1) 0.9778; More…..

USD/CHF’s fall extends to as low as 0.9694 so far today. Intraday bias remains on the downside. Current decline from 1.0342 should target 100% projection of 1.0342 to 0.9860 from 1.0099 at 0.9617. We’ll start to look for bottoming signal again below there. On the upside, above 0.9765 minor resistance will turn intraday bias neutral again and bring consolidations first, before staging another fall.

In the bigger picture, USD/CHF is bounded in medium term range of 0.9443/1.0342 for the moment. Consolidative trading would likely continue and medium term outlook remains neutral. Break of 1.0342 key resistance is needed to confirm underlying bullish momentum in the pair. Meanwhile, downside attempts should be contained by 0.9443 key support level.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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