Detailed FX Market Outlook and Analysis

USD/CHF Daily Analysis 26-OCT-2022

USD/CHF Daily Analysis

Intraday bias in USD/CHF stays neutral at this point, as consolidation from 1.0146 is extending. A deeper retreat cannot be ruled out, but the downside should be contained above 0.9799 support. On the upside, the break of 1.0146 will resume a larger up trend to the 1.0283 projection level.

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 0.9779 support holds, even in case of deep pullback.

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