Daily Pivots: (S1) 0.8903; (P) 0.8939; (R1) 0.8963; More…
Intraday bias in USD/CHF is turned neutral with current retreat and some consolidations would be seen below 0.8974 temporary top. Outlook will stay bullish as long as 0.8735 support holds. Break of 0.8974 will resume larger rise from 0.8374 to 61.8% projection of 0.8374 to 0.8956 from 0.8735 at 0.9095.
In the bigger picture, price actions from 0.8332 (2023 low) are currently seen as a medium term corrective pattern, with rise from 0.8374 as the third leg. Overall outlook will continue to stay bearish as long as 0.9223 resistance holds. Break of 0.8332 low is in favor at a later stage when the consolidation completes.
