[m.youssif]

USD/CHF's break of 0.9139 minor support suggests that recovery from 0.8921 could have finished. Intraday bias is flipped back to the downside for retesting 0.8921 first. Break there will confirm medium term down trend resumption. On the upside, above 0.9273 will bring another recovery towards 55 days EMA (now at 0.9337) and above.

In the bigger picture, whole decline from 1.1729 is still in progress and is expected to develop into a five wave impulsive pattern, with fall from 1.0065 as third leg. Sustained trading below 0.9 psychological level will target 61.8% projection of 1.1729 to 0.9462 from 1.0065 at 0.8664 first and then 100% projection at 0.7798. On the upside, break of 0.9774 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

[m.youssif]

USD/CHF's break of 0.9139 minor support suggests that recovery from 0.8921 could have finished. Intraday bias is flipped back to the downside for retesting 0.8921 first. Break there will confirm medium term down trend resumption. On the upside, above 0.9273 will bring another recovery towards 55 days EMA (now at 0.9337) and above.

In the bigger picture, whole decline from 1.1729 is still in progress and is expected to develop into a five wave impulsive pattern, with fall from 1.0065 as third leg. Sustained trading below 0.9 psychological level will target 61.8% projection of 1.1729 to 0.9462 from 1.0065 at 0.8664 first and then 100% projection at 0.7798. On the upside, break of 0.9774 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.