Detailed FX Market Outlook and Analysis

USD/CHF Daily Analysis 06-SEP-2022

USD/CHF Daily Analysis

Intraday bias in USD/CHF stays neutral first and further rally is expected with 0.9691 support intact. On the upside, the break of 0.9884 resistance will argue that a larger up trend is ready to resume through the 1.0063 high. On the downside, however, the break of 0.9691 minor support will dampen this view and turn bias back to the downside for 0.9469 support instead.

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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