USD/CHF Daily Analysis
Intraday bias in USD/CHF remains on the upside for the moment. The current rally should target the next medium-term projection level at 0.9864. On the downside, however, the break of 0.9669 minor support should indicate short-term bottoming, and turn bias back to the downside for a deeper pullback.
In the bigger picture, the downtrend 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 uptrend 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.
