Daily Pivots: (S1) 0.9915; (P) 0.9928; (R1) 0.9946; More…..
A temporary low is in place at 0.9881 in USD/CHF, ahead of 0.9860 support. Intraday bias is turned neutral first. Deeper decline is in favor as long as 1.0002 minor resistance holds. Break of 0.9860 will extend the whole fall from 1.0342 towards 100% projection of 1.0342 to 0.9860 from 1.0169 at 0.9687. However, break of 1.0002 will argue that fall from 1.0169 is finished and will turn bias back to the upside for this resistance instead.
In the bigger picture, USD/CHF is staying in medium term sideway pattern between 0.9443/1.0342. In any case, decisive break of 1.0342 resistance is needed to confirm underlying strength. Otherwise, we’ll stay neutral in the pair first. In case of another fall, we’d expect strong support from 0.9443/9548 support zone.
