[m.youssif]

Intraday bias in USD/CHF remains neutral and with 0.9126 minor support intact, another rise cannot be ruled out yet. But even in that case, upside should be limited by near term falling trend line resistance (now at 0.9559) and bring down trend resumption. On the downside, below 0.9126 minor support will flip bias to the downside for 0.8921 low first. Break will confirm fall resumption for 61.8% projection of 1.1729 to 0.9462 from 1.0065 at 0.8664.

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]

Intraday bias in USD/CHF remains neutral and with 0.9126 minor support intact, another rise cannot be ruled out yet. But even in that case, upside should be limited by near term falling trend line resistance (now at 0.9559) and bring down trend resumption. On the downside, below 0.9126 minor support will flip bias to the downside for 0.8921 low first. Break will confirm fall resumption for 61.8% projection of 1.1729 to 0.9462 from 1.0065 at 0.8664.

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.