Detailed FX Market Outlook and Analysis

USD/CHF Daily Analysis 29-SEP-2022

USD/CHF Daily Analysis

Intraday bias in USD/CHF stays neutral for the moment. The outlook is mixed up a bit with a deeper-than-expected retreat. Still, on the upside, above 0.9964 will resume the rally from 0.9369 to retest the 1.0063 high. On the downside, the break of 0.9694 support will extend the corrective pattern from 1.0063 with another falling leg.

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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