USD/CHF Daily Forex Analysis
Our Daily Forex Analysis suggests that the USD/CHF intraday outlook is currently neutral, with a phase of consolidation occurring above the provisional low of 0.8904. As long as the 0.9150 resistance holds, the risk will remain tilted toward the downside. A fall below 0.8904 could target 0.8822 and potentially lower levels. Nevertheless, a solid reversal is anticipated from the 0.8760 support level.
Observing the larger picture, the decline from 1.1050 (the high of 2022) is considered a segment of the enduring range pattern which initiated from 1.0346 (the high of 2016). This decline might have found its conclusion at 0.8822, which is slightly ahead of the long-term support at 0.8760. Sustained trading above the pivotal 0.9062 level, which has shifted from support to resistance, should validate the notion of a medium-term bottom formation.
USD/CHF Daily Analysis Summary
In summary, the USD/CHF intraday analysis indicates a neutral outlook with consolidation above 0.8904. A potential decline could target 0.8822, yet a robust reversal is expected from 0.8760. A sustained trade above 0.9062 should confirm a medium-term bottoming.
Key Points
- The intraday bias in USD/CHF remains neutral, with consolidation occurring above 0.8904.
- A fall below 0.8904 could target 0.8822 and potentially lower, but a solid reversal is anticipated from 0.8760.
- Sustained trading above 0.9062 should validate the notion of a medium-term bottom formation.
