Daily Pivots: (S1) 0.8946; (P) 0.8983; (R1) 0.9049; More…
Intraday bias in USD/CHF remains on the upside for the moment. Current rally from 0.8374 is in progress for 61.8% projection of 0.8374 to 0.8956 from 0.8735 at 0.9095 next. On the downside, below 0.8916 minor support will turn intraday bias neutral first. But outlook will stays bullish as long as 0.8735 support holds.
In the bigger picture, price actions from 0.8332 (2023 low) are currently seen as a medium term corrective pattern, with rise from 0.8374 as the third leg. Overall outlook will continue to stay bearish as long as 0.9223 resistance holds. Break of 0.8332 low is in favor at a later stage when the consolidation completes.