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USDCHF Outlook

USD/CHF Mid-Day Outlook


Daily Pivots: (S1) 1.0056; (P) 1.0077; (R1) 1.0099; More.....

Intraday bias in USD/CHF remains neutral as consolidation from 1.0099 temporary top extends lower. Deeper pull back could be seen. But downside is expected to be contained by 0.9977 and bring another rise. As noted before, correction from 1.0342 should have completed at 0.9812. Break of 1.0107 should pave the way to retest 1.0342 high.

In the bigger picture, we're still maintaining that firm break of 1.0342 key resistance is needed to confirm underlying bullish momentum in the pair. However, the corrective nature of the fall from 1.0342 is starting to give the medium term outlook a bullish favor. Hence, in stead of looking for topping signal around 1.0342, we'd now pay closer attention to upside acceleration as USD/CHF approaches this level again.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart