USD/CHF Daily Analysis
Intraday bias in USD/CHF remains neutral and the outlook is unchanged. While deeper retreats cannot be ruled out, the break of 0.9779 support is needed to indicate short-term topping. Otherwise, the outlook will stay cautiously bullish in case of retreat. On the upside, above 1.0019 will target the 1.0063 high first. A decisive break there will resume a larger up trend.
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.
