Daily Pivots: (S1) 0.9051; (P) 0.9080; (R1) 0.9103; More…
Intraday bias in USD/CHF stays neutral for the moment. Further rally is in favor with 0.9007 support intact. Above 0.9107 minor resistance will turn bias back to the upside for retesting 0.9200 and 0.9223 key resistance. However, firm break of 0.9007 will turn bias back to the downside for deeper pull back to 55 D EMA (now at 0.8954) and possibly below.
In the bigger picture, as long as 0.9223 resistance holds, price actions from 0.8332 (2023 low) are seen as a medium term corrective pattern. That is, long term down trend is in favor to resume through 0.8332 at a later stage. However, sustained break of 0.9223 will be an important sign of bullish trend reversal.
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