USD/CHF Daily Analysis
Intraday bias in USD/CHF remains on the upside for the moment. A sustained break of 0.9591 medium-term projection level will pave the way to next at 0.9864. On the downside, the break of 0.9453 support is needed to indicate a short-term topping. Otherwise, the outlook will remain bullish in case of retreat.
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. A sustained break of 61.8% projection of 0.8756 to 0.9471 from 0.9149 at 0.9591 will pave the way to 100% projection at 0.9864. This will now remain the favored case as long as 0.9193 support holds.
