USD/CHF Daily Analysis
Intraday bias in USD/CHF remains neutral for consolidation below 0.9535. The downside of retreat should be contained by 0.9372 resistance turned support to bring another rally. On the upside, above 0.9535 will turn bias back to the upside and target the 0.9593 medium-term projection level.
In the bigger picture, the downtrend from 1.0342 (2016 high) could have been completed with three waves down to 0.8756 (2021 low) already. The rise from 0.8756 is likely a medium-term uptrend of its own. Next target is 61.8% projection of 0.8756 to 0.9471 from 0.9149 at 0.9591. A sustained break there will pave the way to a 100% projection at 0.9864. This will now remain the favored case as long as 0.9149 support holds.
