Detailed FX Market Outlook and Analysis

USD/CHF Daily Analysis 21-July-2022

USD/CHF Daily Analysis

Intraday bias in USD/CHF is turned neutral with the current recovery. A fall from 0.9884 is seen as a falling leg of the consolidation from 1.0063. Below 0.9652 will target 0.9493 support. On the upside, though, above 0.9788 minor resistance will turn bias back to the upside for 0.9884 resistance.

In the bigger picture, the medium-term up trend from 0.8756 (2021 low) is still in progress. The next target is 1.0342 (2016 high). Sustained break there will resume long term up trend from 0.7065 (2011 low). This will remain the favored case as long as 0.9471 resistance turned support holds.

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