[m.youssif]

Intraday bias in USD/CHF remains on the downside with 0.8877 minor resistance intact and current decline should now target 61.8% projection of 1.1729 to 0.9462 from 1.0065 at 0.8664 first and then 100% projection of 0.9774 to 0.8921 from 0.9339 at 0.8486. On the upside, above 0.8877 minor resistance will turn bias neutral again and bring consolidations. But recovery is expected to be limited below 0.9006 resistance and bring down trend resumption.

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 should now pave the way to 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 0.9339 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 on the downside with 0.8877 minor resistance intact and current decline should now target 61.8% projection of 1.1729 to 0.9462 from 1.0065 at 0.8664 first and then 100% projection of 0.9774 to 0.8921 from 0.9339 at 0.8486. On the upside, above 0.8877 minor resistance will turn bias neutral again and bring consolidations. But recovery is expected to be limited below 0.9006 resistance and bring down trend resumption.

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 should now pave the way to 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 0.9339 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.