Daily Pivots: (S1) 0.9767; (P) 0.9790; (R1) 0.9808; More…
Intraday bias in USD/CHF remains on the downside as fall from 1.0023 is in progress. Deeper decline would be seen to retest 0.9659 low. On the upside, above 0.9820 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.
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.
