Daily Pivots: (S1) 0.9840; (P) 0.9868; (R1) 0.9884; More…
Intraday bias in USD/CHF remains neutral with focus on 0.9841 support. Break there will complete a head and shoulder top pattern (ls: 0.9983; h: 1.0027; rs: 0.9970). That should indicate completion of whole rise from 0.9659 and turn outlook bearish for retesting this low. On the upside, above 0.9970 will bring retest of 1.0027 resistance instead.
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.
