USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9374; (P) 0.9390; (R1) 0.9409; More….

Intraday bias in USD/CHF is back on the upside as recent rally resumes. Current rise from 0.8756 should target 61.8% retracement of 0.9901 to 0.8756 at 0.9464. Break there will target 0.9901 resistance next. On the downside, below 0.9369 minor support will turn intraday bias neutral again. But overall outlook will remain bullish as long a s0.9221 support holds.

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.