Detailed FX Market Outlook and Analysis

USD/CHF Daily Analysis 25-August-2022

USD/CHF Daily Analysis

Intraday bias in USD/CHF remains neutral and the outlook is unchanged. Triangle correction from 1.0063 could have been completed at 0.9369 already. Above 0.9691 will t target 0.9884 resistance next. Break there will argue that the larger up trend is ready for resumption through 1.0063. On the downside, below 0.9500 minor support will dampen this view and turn bias back to the downside for 0.9369 support instead.

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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