USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9644; (P) 0.9702; (R1) 0.9735; More…..

Break of 0.9691 indicates resumption of recent decline in USD/CHF. Intraday bias is turned back to the downside. Current fall from 1.0342 will target 100% projection of 1.0342 to 0.9860 from 1.0099 at 0.9617. We’ll start to look for reversal signal below there. But in any case, break of 0.9807 resistance is needed to indicate short term bottoming. Otherwise, near term outlook will remain bearish in case of recovery.

In the bigger picture, USD/CHF is bounded in medium term range of 0.9443/1.0342 for the moment. Consolidative trading would likely continue and medium term outlook remains neutral. Break of 1.0342 key resistance is needed to confirm underlying bullish momentum in the pair. Meanwhile, downside attempts should be contained by 0.9443 key support level.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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