Daily Pivots: (S1) 0.9043; (P) 0.9056; (R1) 0.9076; More….
Intraday bias in USD/CHF is turned neutral with current recovery and some consolidations could be seen. But risk will remain on the downside as long as 0.9223 resistance holds. Sustained break of 55 D EMA (now at 0.8996) will bring deeper fall to 38.2% retracement of 0.8332 to 0.9223 at 0.8883.
In the bigger picture, price actions from 0.8332 medium term bottom are tentatively seen as developing into a corrective pattern to the down trend from 1.0146 (2022 high). Rejection by 0.9243 resistance, followed by sustained break of 38.2% retracement of 0.8332 to 0.9223 at 0.8883 will strengthen this case, and maintain medium term bearishness. However, decisive break of 0.9243 will argue that the trend has already reversed and turn medium term outlook bullish for 1.0146.
 will bring deeper fall to 38.2% retracement of 0.8332 to 0.9223 at 0.8883.){kind=link}