USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9107; (P) 0.9132; (R1) 0.9160; More...

The USD/CHF currency pair is currently in a stage of consolidation from the recent high of 0.9200. At this time, the intraday bias is neutral, indicating that there is no clear direction for the price movement. However, the overall outlook remains bullish as long as the support zone between 0.8956 and 0.8964 holds firm. If the price manages to break through the resistance levels of 0.9200 to 0.9223, it will signal the continuation of the bullish rally that started from a low of 0.8374.

This breakout could lead to a significant upward trend in the USD/CHF pair. On the contrary, if the price settles below 0.8964, it could indicate a trend reversal, shifting the bias towards a downward direction.

Looking at the broader perspective, a decisive break above the resistance level at 0.9223 could suggest that the long-term downtrend from the 2017 high of 1.0342 has concluded. This would indicate a shift towards a bullish outlook, potentially aiming for the next resistance level at 1.0146. However, if the price fails to breach 0.9223 and instead finds resistance there, it may maintain a medium-term bearish outlook, resulting in further declines toward the 0.8332 level at some point in the future.

In summary, traders should keep an eye on these critical levels outlined by the daily pivots. Monitoring price action around these zones will be essential in determining the future trajectory of the USD/CHF currency pair.

Forex, Analysis, Trading