Daily Pivots: (S1) 0.9712; (P) 0.9765; (R1) 0.9800; More…
USD/CHF’s decline accelerates to as low as 0.9708 so far and intraday bias stays on the downside. Current fall form 1.0023 should target 0.9659 support next. On the upside, above 0.9753 minor resistance will turn intraday bias neutral and bring consolidation first, before staging another decline.
In the bigger picture, medium term outlook remains neutral as USD/CHF is staying in range of 0.9659/1.0237. In any case, decisive break of 1.0237 is needed to indicate up trend resumption. Otherwise, more sideway trading would be seen with risk of another fall. Meanwhile, break of 0.9695 support will target 0.9541 support instead.
