USD/CHF Daily Analysis
The focus remains on the 0.9287 resistance level in USD/CHF as the intraday bias remains neutral. A solid break above this level will confirm a short-term bottom at 0.9058 and lead to a stronger rise to the 0.9407 resistance level. On the other hand, if 0.9058 is sustained below, a larger decline from 1.0146 will continue.
In the larger context, the rise from 0.8756 (2021 low) has ended at 1.0146, surpassing the 1.0342 long-term resistance level (2016 high). Given the current downward momentum, the fall from 1.0146 is likely to be a medium-term downtrend. The next target is a test of the 0.8756 low. There should be strong support at this level, leading to a rebound.
