Detailed FX Market Outlook and Analysis

USD/CHF Daily Analysis 20-OCT-2022

USD/CHF Daily Analysis

Intraday bias in USD/CHF stays neutral with a focus on 1.0072 resistance. A break of 1.0072, and sustained trading above 1.0063, will confirm a larger up-trend resumption. The next target is the 1.0283 projection level. However, the break of 0.9914 support will indicate rejection by 1.0063 and turn bias back to the downside for 0.9779 support first.

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.

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