Detailed FX Market Outlook and Analysis

USD/CHF Daily Analysis 14-FEB-2023

USD/CHF Daily Analysis

USD/CHF’s intraday bias is neutral. A firm break of the 0.9287/9 resistance confirms short-term bottoming at 0.9058 and brings a stronger rise to 0.9407 resistance. A sustained break of 0.9058 resumes the larger decline from 1.0146. The rise from 0.8756 has completed at 1.0146, and a test of the 0.8756 low is the next target. In the bigger picture, further decline is expected as long as 0.9407 resistance holds.

USD/JPY’s intraday bias is neutral. A break of 132.89 will resume the rebound from 127.20. A sustained break of 38.2% retracement of 151.93 to 127.20 at 136.64 argues that price actions from 151.93 are a corrective pattern. Rejection by 136.64 solidifies medium-term bearishness for 61.8% retracement of 102.58 to 151.93 at 121.43 and 38.2% retracement of 75.56 to 151.93 at 122.75.

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