[m.youssif]

Intraday bias in USD/CHF remains neutral for the moment. As noted before, recovery from 0.8921 should have finished at 0.9339 already and further fall should be seen to retest 0.8921 first. Break will confirm down trend resumption for 61.8% projection of 1.1729 to 0.9462 from 1.0065 at 0.8664. On the upside, above 0.9203 minor resistance will dampen the immediate bearish view and bring more consolidation first.

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 for the moment. As noted before, recovery from 0.8921 should have finished at 0.9339 already and further fall should be seen to retest 0.8921 first. Break will confirm down trend resumption for 61.8% projection of 1.1729 to 0.9462 from 1.0065 at 0.8664. On the upside, above 0.9203 minor resistance will dampen the immediate bearish view and bring more consolidation first.

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.