Intraday bias in USD/CHF is turned neutral first and some consolidations could be seen below 0.7986 temporary top. Risk will stay on the upside as long as 0.7867 minor support holds. Above 0.7986 will resume the rally from 0.7760 to retest 0.8041 high.
In the bigger picture, while a medium term bottom was formed at 0.7603, it’s still early to call for bullish trend reversal. As long as 38.2% retracement of 0.9200 (2025 high) to 0.7603 at 0.8213 holds, the larger down trend could still continue through 0.7603 at a later stage. However, firm break of 0.7603 will argue that the trend has reversed and turn focus to 0.8332 support turned resistance (2023 low) for confirmation.
SOURCE LINK : https://www.actionforex.com/technical-outlook/usdchf-outlook/643190-usd-chf-daily-outlook-2413/
