USD/CHF Daily Forex Analysis
Daily Forex Analysis: Intraday Outlook for USD/CHF suggests a neutral bias as the pair continues to trade within a range. The near-term outlook leans towards a bearish stance. A downside break of 0.8900 would resume the downward movement from the high of 2022, targeting the low at 0.8818 or potentially lower. On the upside, a break above 0.9015 would indicate a stronger upward momentum toward the resistance level at 0.9146.
In the bigger picture, the decline from the high of 2022 at 1.1046 is viewed as a leg within a long-term range pattern that started from the high of 2016 at 1.0342. While the possibility of further decline cannot be ruled out, significant support is expected to emerge from the long-term support level at 0.8756, potentially leading to a reversal. A decisive break above the resistance at 0.9146 would confirm a medium-term bottoming pattern.
USD/CHF Daily Analysis Summary
The Daily Forex Analysis suggests a neutral intraday bias for USD/CHF as the pair continues range trading. The near-term outlook leans towards a bearish stance, with a potential downside target in sight. However, the overall picture indicates the presence of strong support, which could lead to a reversal. Confirmation of a medium-term bottoming pattern would be signaled by a break above the resistance level.
Key takeaways
- USD/CHF maintains a neutral intraday bias within a range.
- A downside break of 0.8900 would resume the fall toward the low of 2022.
- A break above 0.9015 would signal a stronger rise toward the resistance at 0.9146.
