USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9024; (P) 0.9041; (R1) 0.9059; More….

Intraday bias in USD/CHF remains on the downside at this point. Fall from 0.9273 is in progress for retesting 0.8925 low. On the upside, break of 0.9074 minor resistance will turn intraday bias neutral first. But another fall will remain in favor as long as 55 day EMA (now at 0.9126) holds.

In the bigger picture, failure to sustain above 55 week EMA (now at 0.9183) affirms medium term bearish in USD/CHF. Break of 0.8925 support should resume the whole decline form 1.0342 (2016 high) through 0.8756 low. For now, risk will stay on the downside as long as 0.9273 resistance holds, in case of rebound.

August 05, 2021 at 01:11AM
ActionForex.com
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