USD/CHF stayed in consolidation above 0.8332 final week and outlook is unchanged. Preliminary bias stays impartial this week first. Outlook may even stay bearish so long as 0.8665 assist turned resistance holds. On the draw back, break of 0.8332 will resume bigger fall from 0.9243 to 0.8257 projection stage.
Within the greater image, down pattern from 1.0146 (2022 excessive) is in progress. Subsequent goal is 61.8% retracement of 1.0146 to 0.8551 from 0.9243 at 0.8257. Sustained break there may immediate draw back acceleration to 100% projection at 0.7648. This may now stay the favored case so long as 0.8819 resistance holds.
In the long run image, there is no such thing as a clear signal that down pattern from 1.8305 (2000 excessive) has accomplished. With 38.2% retracement of 1.8305 to 0.7065 at 1.1359 intact, outlook is impartial at finest.
