Daily Pivots: (S1) 0.9905; (P) 0.9924; (R1) 0.9947; More…
Intraday bias in USD/CHF is turned neutral with 4 hour MACD crossed above signal line. Another fall is mildly in favor as long as 0.9957 minor resistance holds. Below 0.9900 will target 0.9856 support. Break there will pave the way to key support level at 0.9787. On the upside, above 0.9957 minor resistance will turn bias back to the upside for retesting 1.0067.
In the bigger picture, as long as 0.9787 support holds, we’re still favoring the bullish case. That is, rise fro 0.9787 is resuming the whole up trend from 0.9186 and should target 1.0342 key resistance on resumption. However, break of 0.9787 will indicate medium term reversal and turn outlook bearish.
