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.
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