USD/CHF Intraday Analysis
In today’s Daily Forex Analysis for the USD/CHF pair, the Intraday Outlook remains neutral, maintaining its previous stance. Should the pair fall below the 0.8666 support line, it would be indicative of pushback from the 0.8821 mark, potentially steering the intraday momentum downwards with a focus on revisiting the 0.8554 zone. Conversely, a convincing breach above 0.8821 can herald a broader bullish undertone, setting sights on the 0.9149 resistance cluster.
Broadening our Daily Analysis, the descending trajectory initiated from 1.0149 remains intact as long as the pivotal 0.8191 points, previously support now acting as resistance, remains unbroken. The next notable point of interest lies at the 61.8% retracement level, going from 0.7068 (a notable 2011 nadir) to 1.0345 (a peak from 2016), positioned at 0.8320. That said, a consistent surge beyond 0.8821 could signal a shift toward a medium-term bottom formation. This would likely propel the pair into a more assertive upward swing targeting the 0.9149 resistance cluster, closely aligned with the 38.2% retracement from 1.0149 to 0.8554 at 0.9163.
Analysis Summary
The USD/CHF’s intraday analysis highlights neutrality with pivotal points at 0.8666 and 0.8821. A broader downtrend from 1.0149 stays dominant, but signs of a potential medium-term reversal are looming if 0.8821 is decisively overtaken.
Key Highlights:
- The 0.8666 support and 0.8821 resistance levels are critical intraday markers.
- The downtrend that began at 1.0149 remains in play, contingent on the 0.8191 threshold.
- An established climb past 0.8821 might hint at a medium-term shift with 0.9149 as the next target.
