Intraday bias in USD/CHF is turned neutral first with current retreat. Some consolidations would be seen below 0.8012 temporary top. Further rise is expected as long as 0.7906 resistance turned support holds. Above 0.8012 will bring retest of 0.8041 high. Firm break there will resume the rise from 0.7603 and target 100% projection 0.7603 to 0.841 from 0.7600 at 0.8198 next.
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/643632-usd-chf-daily-outlook-2416/
