USD/CHF analysis (July 20)

The market seems to have found a good support on top of 0,81. Considering the previous breakout of the daily range, it might be only a pullback towards former support at 0,83.
Thus, we expect a continuation of the bounce towards the daily 20 moving average (0,8320). A break back above this resistance exposes 0,85.
We will remain cautious with this pair which may resume its downtrend very quickly but we hold a slight bullish bias over the immediate term.