Detailed FX Market Outlook and Analysis

USD/CHF Daily Analysis 01-SEP-2022

USD/CHF Daily Analysis

USD/CHF’s rally from 0.9369 is still in progress and intraday bias stays on the upside. The current rally should target 0.9884 resistance first. Break there will argue that a larger up trend is ready for resumption through 1.0063. On the downside, the break of 0.9576 support is needed to indicate the completion of the rebound. Otherwise, the further rise will remain in favor in case of retreat.

In the bigger picture, current development suggests that the up trend from 0.8756 (2021 low) is still in progress. A sustained break of 1.0063 will target a 100% projection of 0.9149 to 1.0063 from 0.9369 at 1.0283, and then 1.0342 (2016 high). For now, this will remain the favored case as long as 0.9369 support holds, even in case of deep pullback.

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