Daily Pivots: (S1) 0.9881; (P) 0.9913; (R1) 0.9946; More…..
With 1.0002 minor resistance intact, deeper decline is still expected in USD/CHF for 0.9860 support. Break there will resume whole decline from 1.0342 and target 100% projection of 1.0342 to 0.9860 from 1.0169 at 0.9687. Nonetheless, on the upside, break of 1.0002 minor resistance will turn bias back to the upside for 1.0169 resistance instead.
In the bigger picture, USD/CHF is staying in medium term sideway pattern between 0.9443/1.0342. In any case, decisive break of 1.0342 resistance is needed to confirm underlying strength. Otherwise, we’ll stay neutral in the pair first. In case of another fall, we’d expect strong support from 0.9443/9548 support zone.
