Daily Pivots: (S1) 0.9495; (P) 0.9553; (R1) 0.9596; More…
Intraday bias in USD/CHF remains on the downside for the moment. Decline from 0.9868 is seen as a leg in the corrective pattern from 1.0063. Deeper fall would be seen towards 0.9369 support. On the upside above 0.9625 minor resistance will turn intraday bias neutral first.
In the bigger picture, current development suggests that up trend from 0.8756 (2021 low) is still in progress. Sustained break of 1.0063 will target 100% projection of 0.9149 to 1.0063 from 0.9369 at 1.0283, and then 1.0342 (2016 high). For now, this will remain the favored case as long as 0.9369 support holds, even in case of deep pull back.
