USD/CHF’s rally resumed after brief consolidations and intraday bias is back on the upside. Firm break of 100% projection 0.7603 to 0.8041 from 0.7600 at 0.8198 will extend the rally from 0.7603 to 161.8% projection at 0.8469. On the downside, below 0.8137 minor support will turn intraday bias neutral again first.
In the bigger picture, focus is now on 38.2% retracement of 0.9200 (2025 high) to 0.7603 at 0.8213. Decisive break will argue that USD/CHF is reversing the medium term trend, and turn focus to 0.8332 support turned resistance (2023 low) for confirmation. Nevertheless, rejection by 0.8213 will maintain medium term bearishness for another fall through 0.7603 at a later stage.
SOURCE LINK : https://www.actionforex.com/technical-outlook/usdchf-outlook/648698-usd-chf-daily-outlook-2447/
