USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9375; (P) 0.9396; (R1) 0.9410; More….

Intraday bias in USD/CHF is turned neutral with 4 hour MACD crossed below signal line. Some consolidations could be seen first. But outlook stays bullish as long as 0.9221 support holds. Break of 0.9416 will extend the rise from 0.8756 to 61.8% retracement of 0.9901 to 0.8756 at 0.9464. Break there will target 0.9901 resistance next.

In the bigger picture, fall from 1.0237 should have completed at 0.8756, on bullish condition in daily and weekly MACD. Current rally from 0.8756 should target 0.9901 resistance first. Break there will target 1.0237/0342 resistance zone in the medium term. This will now remain the favored case as long as 0.9044 resistance turned support holds.