USD/CHF Daily Analysis
Intraday bias in USD/CHF is turned neutral again as it lost momentum ahead of 1.0063 resistance. On the upside, a firm break of 1.0063 will resume a larger trend. Next target is 100% projection of 0.9193 to 1.0063 from 0.9543 at 1.0413. On the downside, below 0.9872 minor support will turn intraday bias to the downside, to extend the corrective pattern from 1.0063 with another falling leg.
In the bigger picture, the downtrend from 1.0342 (2016 high) should have been completed with three waves down to 0.8756 (2021 low) already. The rise from 0.8756 is likely a medium-term up trend of its own. The next target is the 1.0237/0342 resistance zone. This will remain the favored case as long as 0.9471 resistance turned support holds. However, a sustained break of 0.9471 will extend long-term range trading with another falling leg.
