Detailed FX Market Outlook and Analysis

USD/CHF Daily Analysis 20-SEP-2022

USD/CHF Daily Analysis

Intraday bias in USD/CHF stays mildly on the upside, and a rise from 0.9478 would target 0.9868 resistance. Break there will argue that a larger up trend is ready to resume through 1.0063. Overall, the corrective pattern from 1.0063 high could still extend. Below 0.9554 minor support will turn bias back to the downside for 0.9478 and below.

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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