USD/CHF Daily Analysis
USD/CHF continues to rise from its low of 0.9058, with an intraday bias towards the upside to test the 38.2% retracement level of 1.0146 to 0.9058 at 0.9474. The rebound is expected to continue unless the pair breaks below the support level of 0.9219.
Looking at the bigger picture, the decline from 1.0146 is viewed as part of a long-term sideways pattern. If the 38.2% retracement level of 1.0146 to 0.9058 at 0.9474 holds, another fall towards 0.9058 is likely. However, if the pair sustains trading above 0.9474, it will indicate a reversal of the medium-term trend, with further rallies opening up to 1.0146 again.
