Daily Pivots: (S1) 0.8574; (P) 0.8597; (R1) 0.8639; More….
With 0.8665 support turned resistance intact, rebound from 0.8332 is seen as a corrective move only. Break of 0.8487 will indicate that the rebound has completed, and bring retest of 0.8332 low. However, decisive break of 0.8665 will rise the change of larger trend reversal and target 0.8819 resistance next.
In the bigger picture, outlook in USD/CHF will stay bearish as long as 0.9243 resistance holds. Larger down trend from 1.0146 (2022 high) should extend further to 61.8% retracement of 1.0146 to 0.8551 from 0.9243 at 0.8257.
