USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9332; (P) 0.9385; (R1) 0.9417; More….

Intraday bias in USD/CHF stays neutral for the moment. Some more consolidations could be seen below 0.9471. But overall outlook will remain bullish as long as 0.9221 support holds. On the upside, sustained break of 61.8% retracement of 0.9901 to 0.8756 at 0.9464 will extend the rise from 0.8756 towards 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.