Daily Forex Analysis – USD/CHF
In today’s Daily Forex Analysis of USD/CHF, the Intraday Outlook suggests a bullish tilt as the ascent from 0.8553 continues. A sustained rally could target the 0.9148 cluster resistance. However, any downside breach of 0.8895 support may signify a short-term peak, redirecting focus to a more extended pullback.
Expanding our Daily Analysis, the rebound from the 0.8553 medium-term low appears to be a corrective phase to the downward trend that began from 1.0148, the peak of 2022. A further upward move is anticipated, aiming for the 0.9148 cluster resistance, which also aligns with a 38.2% Fibonacci retracement of the 1.0148 to 0.8553 move at 0.9162. Yet, potent resistance is likely at this juncture, at least on the initial attempt.
Analysis Summary
The Daily Forex Analysis for USD/CHF highlights a bullish intraday bias, with a target resistance at 0.9148. However, a break below 0.8895 could shift the momentum, initiating a deeper pullback.
Key Bullet Points:
- Bullish Intraday Outlook for USD/CHF as 0.8553 low rebounds
- Target cluster resistance at 0.9148
- Downside break of 0.8895 could trigger a deeper pullback
