USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9977; (P) 0.9989; (R1) 1.0007; More…

USD/CHF rises to as high as 1.0019 so far. Intraday bias stays on the upside for 1.0027 resistance first. Break will resume whole rise from 0.9659. Next upside target will be 61.8% projection of 0.9659 to 1.0027 from 0.9869 at 1.0095. On the downside, below 0.9980 minor support will delay the bullish case and turn intraday bias neutral first.

In the bigger picture, medium term outlook remains neutral as USD/CHF is staying in range of 0.9659/1.0237. In any case, decisive break of 1.0237 is needed to indicate up trend resumption. Otherwise, more sideway trading would be seen with risk of another fall. Meanwhile, break of 0.9695 support will target 0.9541 support instead.