USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9809; (P) 0.9836; (R1) 0.9858; More…

With 0.9863 minor resistance intact, intraday bias in USD/CHF remains on the downside. Rebound from 0.9659 should have completed already. Deeper fall would be seen to retest this low. On the upside, above 0.9863 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

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.