USD/CHF’s upward march continues to rise and this confirms that last days trading days was corrective one after price managed to make a rebound and now is trading higher, but is far from 0.9349 level, to extend even higher above 0.9469 resistance level, which holds the extend in price, after pair is making a positive and consistent trade above 0.9349 support level, and price even pinned above 0.9469 resistance level, this shows the big accumulated strength in bulls, gather strength to overcome previous high and now price is heading north towards retest of the 0.9469 resistance level.. However, Price is trading above 0.9152 support level and bias is flipped towards bullish and this is a sign that the thought corrective move was a false one and upward seems not to lose any of its momentum and extend further more increasing in value USD/CHF and now path for targeting up is cleared. Price should target higher. If pair managed to a sustain gain then this signals that pair has gather lots of strength to make a retest of the upper trend line. Only strong upward impulse would be in favor of bulls, and this would boost their confidence. Intraday bias remains bullish for the moment after successful trade above 0.9061 support level, and now we are expecting price going further upwards. Focus of recovery will be 0.8815 level if pair managed sustain gain, this will signal for a upward move towards 0.9061. On the downside, price will be limited above 0.8245, we expect no further decline.
Daily Pivots: Pivot Point – 0.9459, 1st Support – 0.9416, 1st Resistance – 0.9499