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Daily Pivots: (S1) 0.8927; (P) 0.8949; (R1) 0.8966; More…

Intraday bias in USD/CHF is neutral for the moment, but further fall is expected with 0.9000 resistance intact. Below 0.8914 will target 0.8825 low. Break of 0.8825 will target 50% retracement of 0.8332 to 0.9223 at 0.8778 next. However, break of 0.9000 will turn bias back to the upside for 0.9049 resistance instead.

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In the bigger picture, with 0.9243 resistance intact, medium term outlook in USD/CHF is neutral at best. For now, more sideway trading is likely between 0.8332/9243. However, firm break of 0.9243 will indicate larger bullish trend reversal.

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