[m.youssif]

USD/CHF's corrective rise from 0.8921 is still in progress and could extend higher with 0.9126 minor support intact. But strong resistance should be seen at near term falling trend line resistance (now at 0.9567) to limit upside and bring reversal. On the downside, below 0.9126 minor support will flip intraday bias back to the downside for a retest on 0.8921 low.

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 corrective rise from 0.8921 is still in progress and could extend higher with 0.9126 minor support intact. But strong resistance should be seen at near term falling trend line resistance (now at 0.9567) to limit upside and bring reversal. On the downside, below 0.9126 minor support will flip intraday bias back to the downside for a retest on 0.8921 low.

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.