USD/CHF Daily Analysis
USD/CHF’s rally is still in progress and the outlook is unchanged. Intraday bias remains on the upside for the next projection level at 0.9864. On the downside, below 0.9602 minor support will turn intraday bias neutral and bring consolidations. But the downside of retreat should be contained well above 0.9372 resistance turned support to bring another rally.
In the bigger picture, the down trend from 1.0342 (2016 high) should have been completed with three waves down to 0.8756 (2021 low) already. The rise from 0.8756 is likely a medium-term up trend of its own. Next target is 100% projection of 0.8756 to 0.9471 from 0.9149 at 0.9864. This will now remain the favored case as long as 0.9459 resistance turned support holds.
