Daily Pivots: (S1) 0.9024; (P) 0.9052; (R1) 0.9095; More…
Intraday bias in USD/CHF stays mildly on the upside, as rise from 0.8374 is in progress for 61.8% projection of 0.8374 to 0.8956 from 0.8735 at 0.9095. Firm break there will pave the way to 0.9223 ley resistance next. Nevertheless, considering bearish divergence condition in 4H MACD, break of 0.8983 minor support will indicate short term topping, and turn bias back to the downside for deeper pull back.
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.
