Daily Pivots: (S1) 0.9044; (P) 0.9073; (R1) 0.9090; More….

USD/CHF’s fall from 0.9273 is still in progress and intraday bias remains on the downside. Next target is 0.8925 low. On the upside, above 0.9116 support turned resistance will mix up the near term outlook and turn intraday bias neutral first.

In the bigger picture, medium term outlook is currently neutral with focus on 0.9471 resistance. Sustained break there will indicate completion of whole decline from 1.0342 (2016 high). Medium term outlook will be turned bullish for a test on 1.0342 high. But, rejection by 0.9471 again will revive bearishness for another fall through 0.8756 low.

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