USD/CHF Daily Outlook

[Forex-Outlook]

USD/CHF's retreat from 1.1447 was relatively brief and recent rally resumed by rising to as high as 1.1530 so far. We'll stay short term bullish as long as 1.1267 minor support holds and expect the current rise to target 161.8% projection of 1.0131 to 1.0897 from 1.0434 at 1.1673 next. On the downside, though, below 1.1267 will indicate that a short term top is formed, possibly with divergence condition in 4 hours MACD, and bring lengthier consolidations.

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