USD/CHF’s extended rebound and break of 0.8038 support turned resistance argues that fall from 0.8205 has completed at 0.7948. Intraday bias is back on the upside for retesting 0.8205 high. Firm break there will extend larger rally from 0.7603. ON the downside, break of 0.7948 will resume the fall from 0.8205 instead.
In the bigger picture, rejection by 38.2% retracement of 0.9200 (2025 high) to 0.7603 at 0.8213 suggests rebound from 0.7603 is merely a corrective move, and the long term down trend is not complete yet. Break of 0.7603 will resume the down trend. Nevertheless, decisive break of 0.8213 will indicate that USD/CHF is at least reversing the medium term trend, and turn focus to 0.8332 support turned resistance (2023 low) for confirmation.
SOURCE LINK : https://www.actionforex.com/technical-outlook/usdchf-outlook/652013-usd-chf-daily-outlook-2469/
