USD/CHF Daily Outlook
Daily Pivots: (S1) 0.9251; (P) 0.9277; (R1) 0.9301; More...
The breach of 0.9254 suggests that fall from 0.9512 is resuming. Intraday bias is back on the downside for 0.9214 support first. Break there will confirm resumption of whole fall from 0.9971 and should target 61.8% projection of 0.9971 to 0.9214 from 0.9512 at 0.9044 next. On the upside, though, break of 0.9340 resistance will argue that consolidation pattern from 0.9214 is going to extend further with another rising leg before fall from 0.9971 resumes.
In the bigger picture, medium term rebound from 0.7065 is viewed as a corrective move and should have completed after hitting 0.9916 resistance (61.8% retracement of 1.1730 to 0.7065 at 0.9948). Deeper decline is expected to 38.2% retracement of 0.7065 to 0.9971 at 0.8861 on break of 0.9214.