USD/CHF Daily Analysis
Intraday bias in USD/CHF remains neutral as range trading continues. Further decline is still in favor as long as the 0.9407 resistance holds. A break of 0.9165 will resume the whole fall from 1.0146. However, a firm break of 0.9407 will turn the bias back to the upside for a strong rebound.
In the bigger picture, the rise from 0.8756 (2021 low) has completed at 1.0146, well ahead of 1.0342 long-term resistance (2016 high). Based on current downside momentum, a fall from 1.0146 should be a medium-term down trend itself. The next target is a test on the 0.8756 low. Strong support should be seen there to bring a rebound. Still, the further decline will now be expected as long as the 0.9407 resistance holds, in any case.
