USD/CHF Daily Forex Analysis
Our daily forex analysis for USD/CHF indicates a maintained downside intraday bias for the time being. The fall from 0.9150 is projected to continue towards the 0.8822 support and could extend even further. However, we anticipate firm support from 0.8760 to trigger a reversal. A rise above the 0.8987 minor resistance would shift the intraday outlook to neutral.
Zooming out to the broader perspective in our daily analysis, the decline from 1.1050 (the 2022 high) is considered a segment within the long-term range pattern established since 2016 high at 1.0346. This fall might have culminated at 0.8822, marginally before the long-term support at 0.8760. If the pair trades consistently above the 0.9062 level, which previously served as support but now acts as resistance, it would confirm the medium-term bottoming. A subsequent break of the 0.9443 resistance would solidify the bullish trend reversal.
USD/CHF Daily Analysis Summary
Our USD/CHF Daily Forex Analysis reveals a persistent downside bias, with a potential for a reversal at the 0.8760 support level. An ascension above 0.8987 resistance would neutralize the intraday outlook. The longer-term view anticipates a possible completion of the downtrend, with a sustained break above 0.9062 signaling a bullish trend reversal.
Key Points
- USD/CHF intraday analysis shows a prevailing downside bias with a potential reversal at 0.8760 support.
- An upward move beyond the 0.8987 minor resistance would shift the intraday outlook to neutral.
- The longer-term analysis suggests the completion of the downtrend and potential bullish trend reversal with a break above 0.9062.
