USD/CHF Daily Analysis
USD/CHF continues to lose downside momentum as seen in 4-hour MACD, and intraday bias stays neutral. Fall from 1.0048 is still seen as the third leg of the consolidation pattern from 1.0063. Strong support should be seen around 0.9543 to bring a rebound. On the upside, above 0.9731 minor resistance will turn bias back to the upside for retesting 1.0063 resistance. However, a sustained break of 0.9543 will bring a deeper fall back to 0.9459 resistance turned support.
In the bigger picture, the down trend from 1.0342 (2016 high) should have 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. The next target is the 1.0237/0342 resistance zone. This will remain the favored case as long as 0.9471 resistance turned support holds. However, a sustained break of 0.9471 will extend long-term range trading with another falling leg.