Daily Pivots: (S1) 0.9066; (P) 0.9098; (R1) 0.9117; More…
Intraday bias in USD/CHF is turned neutral first with current retreat and some consolidations would be seen below 0.9136 temporary top. But outlook will remain bullish as long as 0.8956 resistance turned support holds. Above 0.9136 will resume the rally from 0.8374 to 0.9223 key resistance next.
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. However, decisive break of 0.9223 will be an important sign of bullish trend reversal.
