Daily Pivots: (S1) 0.9374; (P) 0.9390; (R1) 0.9409; More….
Intraday bias in USD/CHF remains neutral for consolidations below 0.9416. Downside should be contained well above 0.9221 support to bring rally resumption. On the upside, break of 0.9416 will extend the rise from 0.8756 to 61.8% retracement of 0.9901 to 0.8756 at 0.9464. Break there will target 0.9901 resistance next.
In the bigger picture, fall from 1.0237 should have completed at 0.8756, on bullish condition in daily and weekly MACD. Current rally from 0.8756 should target 0.9901 resistance first. Break there will target 1.0237/0342 resistance zone in the medium term. This will now remain the favored case as long as 0.9044 resistance turned support holds.
