USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9221; (P) 0.9249; (R1) 0.9307; More….

Sustained break of 0.9273 resistance confirms resumption of whole rise from 0.8925. Intraday bias remains on the upside for 0.9471 resistance next. Decisive break there will carry larger bullish implications. On the downside, below 0.9258 minor support will turn intraday bias neutral first, before staging another rally.

In the bigger picture, USD/CHF is still struggling around 55 week EMA (now at 0.9178) and outlook is mixed for now. Confirmed rejection by the 55 week EMA will retain medium term bearishness. That is, larger fall from 1.0342 would resume through 0.8756 low at a later stage. However, sustained trading above 55 week EMA will tilt favor to the case of bullish reversal. Focus would then be turned to 0.9471 resistance for confirmation.

September 18, 2021 at 01:36AM
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