Detailed FX Market Outlook and Analysis

USD/CHF Daily Analysis 15-August-2022

USD/CHF Daily Analysis

Intraday bias in USD/CHF stays neutral for consolidation above 0.9369 temporary low. The upside should be limited well below 0.9648 resistance to bring another fall. A break of 0.9369 will resume a larger fall to a 100% projection of 0.9884 to 0.9468 from 0.9648 at 0.9232.

In the bigger picture, the break of 0.9471 support turned resistance argues that the medium-term up trend from 0.8756 has been completed with three waves up to 1.0063. Long term sideway pattern might have started another falling leg. A deeper decline would now be in favor as long as 0.9648 resistance holds, to 0.9149 structural support. A sustained break there could pave the way back to 0.8756.

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