USD/CHF rebounded to 0.9467 last week but reversed from there and dropped sharply. The development argues that larger fall form 0.9901 is not finished. Initial bias remains neutral this week first. Break of 0.9382 will target a test on 0.9181 low. Meanwhile, break of 0.9467 resistance will indicate short term bottoming and turn bias back to the upside for 0.9532 resistance and above.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). It could have completed at 0.9181 after hitting 0.9186 key support (2018 low). Break of 0.9901 will extend the rebound from 0.9181 through 1.0023 resistance. After all, medium term range trading will likely continue between 0.9181/1.0237 for some more time.

In the long term picture, price actions from 0.7065 (2011 low) are not clearly impulsive yet. Thus, we’ll treat it as developing into a corrective pattern, at least, until a firm break of 1.0342 resistance.

Daily Pivots: (S1) 0.9845; (P) 0.9886; (R1) 0.9913; More…

Intraday bias in USD/CHF remains on the downside for the moment. At this point, we’d be look for strong support from 0.9841 to contain downside and bring rebound. On the upside, above 0.9907 minor resistance will turn bias back to the upside for retesting 1.0023/27 resistance zone. However, sustained break of 0.9841 will indicate near term reversal and pave the way back to 0.9659 support.

In the bigger picture, medium term outlook remains neutral as USD/CHF is staying in range of 0.9659/1.0237. In any case, decisive break of 1.0237 is needed to indicate up trend resumption. Otherwise, more sideway trading would be seen with risk of another fall. Meanwhile, break of 0.9695 support will target 0.9541 support instead.

USD/CHF dropped sharply to as low as 0.9609 last week. Break of 0.9613 low suggests resumption of whole decline from 1.0237. Initial bias remains on the downside this week. Sustained trading below 0.9613 will target 100% projection of 1.0023 to 0.9613 from 0.9848 at 0.9438. On the upside, break of 0.9699 minor resistance will turn intraday bias neutral first. But recovery should be limited well below 0.9848 resistance to bring fall resumption.

In the bigger picture, medium term outlook remains neutral as USD/CHF is staying sideway trading started from 1.0342 (2016 high). Fall from 1.0237 is a leg inside the pattern and rejection by 55 week EMA affirms bearishness. Such decline could target 0.9186 (2018 low) and below. In case of another rise, break of 1.0237 is needed to indicate up trend resumption. Otherwise, more sideway trading would be seen with risk of another fall.

In the long term picture, price actions from 0.7065 (2011 low) are not clearly impulsive yet. Thus, we’ll treat it as developing into a corrective pattern, at least, until a firm break of 1.0342 resistance.

Daily Pivots: (S1) 0.9845; (P) 0.9869; (R1) 0.9909; More….

USD/CHF’s rally is still in progress and intraday bias remains on the upside for 261.8% projection of 0.9149 to 0.9459 from 0.9193 at 1.0005 next. On the downside, break of 0.9708 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

In the bigger picture, down trend from 1.0342 (2016 high) should have completed with three waves down to 0.8756 (2021 low) already. Rise from 0.8756 is likely a medium term up trend of its own. Sustained trading above 100% projection of 0.8756 to 0.9471 from 0.9149 at 0.9864 will pave the way to 161.8% projection at 1.0306, which is close to 1.0342 (2016 high). This will remain the favored case as long as 0.9459 resistance turned support holds.

USD/CHF stayed in the consolidation last week and outlook is unchanged. Initial bias remains neutral this week first and some more sideway trading might be seen. On the upside, , firm break of 0.9554 resistance will resume the rebound from 0.9376 instead. In this case, further rally would be seen to 55 day EMA (now at 0.9576). On the downside, however, below 0.9420 minor support will bring retest of 0.9376 low. Break will resume the whole decline form 0.9901 and target 100% projection of 0.9901 to 0.9502 from 0.9736 at 0.9337.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). It could have completed at 0.9181 after hitting 0.9186 key support (2018 low). Break of 0.9901 will extend the rebound from 0.9181 through 1.0023 resistance. After all, medium term range trading will likely continue between 0.9181/1.0237 for some more time.

In the long term picture, price actions from 0.7065 (2011 low) are not clearly impulsive yet. Thus, we’ll treat it as developing into a corrective pattern, at least, until a firm break of 1.0342 resistance.

Daily Pivots: (S1) 0.9028; (P) 0.9045; (R1) 0.9062; More…

USD/CHF retreated again after edging higher to 0.9083. Intraday bias stays neutral for the moment. Further rally is in favor as long as 0.8939 support holds. On the upside, sustained trading above 55 D EMA (now at 0.9039) should confirm that current rally is at least correcting whole down trend from 1.0146. Further rise should then be seen to 38.2% retracement of 1.0146 to 0.8818 at 0.9325. On the downside, though, break of 0.8939 will bring retest of 0.8818 low instead.

In the bigger picture, fall from 1.1046 (2022 high) is seen as a leg in the long term range pattern from 1.0342 (2016 high). So, downside should be contained by 0.8756 to bring reversal. Sustained break of 0.9058 support turned resistance will be the first sign of medium term bottoming. However, decisive break of 0.8756 will carry larger bearish implications.

Daily Pivots: (S1) 0.9656; (P) 0.9685; (R1) 0.9703; More…

USD/CHF drops to as low as 0.9635 so far today. Break of 0.9646 support indicates resumption of larger down trend from 1.0237. Intraday bias is back on the downside for 100% projection of 1.0237 to 0.9659 from 1.0023 at 0.9445. On the upside, break of 0.9762 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, medium term outlook remains neutral as USD/CHF is staying sideway trading started from 1.0342 (2016 high). Fall from 1.0237 is a leg inside the pattern and could target 0.9186 (2018 low). In case of another rise, break of 1.0237 is needed to indicate up trend resumption. Otherwise, more sideway trading would be seen with risk of another fall.

Daily Pivots: (S1) 0.9116; (P) 0.9130; (R1) 0.9147; More….

USD/CHF’s fall from 0.9157 accelerates lower today, and the development suggests that rebound from 0.8987 has completed already. Fall from 0.9157 is now seen as the third leg of the pattern from 0.9223. Intraday bias is back on the downside for 0.8987 support first. Break will target 100% projection of 0.9223 to 0.8987 from 0.9157 at 0.8921. On the upside, above 0.8904 minor resistance will turn intraday bias neutral first.

In the bigger picture, price actions from 0.8332 medium term bottom are tentatively seen as developing into a corrective pattern to the down trend from 1.0146 (2022 high). Rejection by 0.9243 resistance, followed by sustained break of 38.2% retracement of 0.8332 to 0.9223 at 0.8883 will strengthen this case, and maintain medium term bearishness. However, decisive break of 0.9243 will argue that the trend has already reversed and turn medium term outlook bullish for 1.0146.

Daily Pivots: (S1) 0.8721; (P) 0.8743; (R1) 0.8773; More….

Range trading continues in USD/CHF and intraday bias remains neutral for the moment. Another fall is in favor as long as 0.8769 minor resistance holds. Below 0.8665 will resume the decline from 0.9243 to 161.8% projection of 0.9243 to 0.8886 from 0.9111 at 0.8533, which is close to 0.8551 low. However, break of 0.8769 minor resistance should indicate short term bottoming, and turn bias back to the upside for stronger recovery to 0.8886 support turned resistance.

In the bigger picture, price actions from 0.8551 are currently seen as part of a corrective pattern to the decline from 1.0146 (2022 high). Fall from 0.9243 is seen as the second leg for now. Deeper decline could be seen to 0.8551 low but strong support should be seen there to bring rebound. For now, this will remain the favored case as long as 0.8886 support turned resistance holds.

Daily Pivots: (S1) 0.9765; (P) 0.9792; (R1) 0.9847; More…

USD/CHF’s rise from 0.9541 is still in progress. Intraday bias remains on the upside for 0.9866 key resistance level, 61.8% retracement of 1.0067 to 0.9541 at 0.9866. Decisive break there will bring retest of 1.0067 high. On the downside, below 0.9736 minor support will turn intraday bias neutral first.

In the bigger picture, focus is now back on 0.9866 support turned resistance. Decisive break there will suggests that pull back from 1.0067 has completed at 0.9541. And larger rise from 0.9186 low is ready to resume. Decisive break of 1.0067 will pave the way to 1.0342 key resistance next. Meanwhile, break of 0.9541 will extend the decline but we don’t expect a break of 0.9186 low even in that case.

Daily Pivots: (S1) 0.9596; (P) 0.9617; (R1) 0.9644; More

Intraday bias in USD/CHF stays neutral for the moment. The pair is still in corrective pattern from 1.0063. Below 0.9478 will extend the fall from 0.9868 towards 0.9369 support. On the upside, firm break of 4 hour 55 EMA (now at 0.9654) will target 0.9868 resistance first. Further break there will argue that larger up trend is ready to resume through 1.0063.

In the bigger picture, current development suggests that up trend from 0.8756 (2021 low) is still in progress. Sustained break of 1.0063 will target 100% projection of 0.9149 to 1.0063 from 0.9369 at 1.0283, and then 1.0342 (2016 high). For now, this will remain the favored case as long as 0.9369 support holds, even in case of deep pull back.

Daily Pivots: (S1) 0.9442; (P) 0.9469; (R1) 0.9493; More…

Intraday bias in USD/CHF remains neutral for the moment. Rebound from 0.9186 might not be finished yet. But considering divergence condition in 4 hour MACD, even in case of another rise, upside should be limited by 0.9626 key fibonacci level. Break of 0.9432 support will indicate near term reversal and completion of rebound from 0.9186. In this case, intraday bias will be turned back to the downside for retesting 0.9186 low. However, sustained break of 0.9626 will carry larger bullish implications.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. Main focus is on 38.2% retracement of 1.0342 (2016 high) to 0.9186 (2018 low) at 0.9626. Sustained break there will add to the case of trend reversal and target 61.8% retracement at 0.9900 and above). However, rejection from 0.9626 will maintain medium term bearishness for another low below 0.9186.

Daily Pivots: (S1) 0.9313; (P) 0.9342; (R1) 0.9397; More….

Intraday bias in USD/CHF remains on the upside and further rise should be seen to 61.8% retracement of 0.9901 to 0.8756 at 0.9464. On the downside, break of 0.9256 minor support will turn intraday bias neutral for consolidation. But further rally is expected as long as 0.9044 resistance turned support holds.

In the bigger picture, current development argues that fall from 1.0237 has completed at 0.8756, on bullish condition in daily and weekly MACD. Current rally from 0.8756 should target 0.9901 resistance first. Break there will target 1.0237/0342 resistance zone in the medium term. This will now remain the favored case as long as 0.9044 resistance turned support holds.

Daily Pivots: (S1) 0.9442; (P) 0.9469; (R1) 0.9493; More…

USD/CHF recovered ahead of 0.9423 near term support and intraday bias remains neutral. While rebound from 0.9186 might extend higher, we’d expect strong resistance from0.9626 key fibonacci level to limit upside. That’s supported by divergence condition in 4 hour MACD. On the downside, break of 0.9432 support will indicate near term reversal and completion of rebound from 0.9186. In this case, intraday bias will be turned back to the downside for retesting 0.9186 low. However, sustained break of 0.9626 will carry larger bullish implications.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. Main focus is on 38.2% retracement of 1.0342 (2016 high) to 0.9186 (2018 low) at 0.9626. Sustained break there will add to the case of trend reversal and target 61.8% retracement at 0.9900 and above). However, rejection from 0.9626 will maintain medium term bearishness for another low below 0.9186.

Daily Pivots: (S1) 0.9213; (P) 0.9238; (R1) 0.9272; More…

USD/CHF is losing some downside momentum as seen in 4 hour MACD. But further decline is expected as long as 0.9341 resistance holds. Current fall from 1.0146 should target 61.8% projection of 1.0146 to 0.9355 from 0.9545 at 0.9056. However, break of 0.9341 will indicate short term bottoming and turn bias back to the upside for rebound.

In the bigger picture, rise from 0.8756 (2021 low) has completed at 1.0146, well ahead of 1.0342 long term resistance (2016 high). Based on current downside momentum, fall from 1.0146 might be a medium term down trend itself. Sustained break of 61.8% retracement of 0.8756 to 1.0146 at 0.9287 will pave the way to 0.8756. In any case, risk will stay on the downside as long as 0.9545 resistance holds.

Daily Pivots: (S1) 0.9431; (P) 0.9470; (R1) 0.9505; More…

No change in USD/CHF’s outlook. Rebound from 0.9186 is still in progress but it’s seen as a corrective move. Hence, we’d expect strong resistance from 0.9626 key fibonacci level to limit upside. On the downside, break of 0.9432 support will indicate near term reversal and completion of rebound from 0.9186. In this case, intraday bias will be turned back to the downside for retesting 0.9186 low. However, sustained break of 0.9626 will be another evidence of larger reversal. In this case, further rise would be seen to next fibonacci level at 0.9900.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. Main focus is on 38.2% retracement of 1.0342 (2016 high) to 0.9186 (2018 low) at 0.9626. Sustained break there will add to the case of trend reversal and target 61.8% retracement at 0.9900 and above). However, rejection from 0.9626 will maintain medium term bearishness for another low below 0.9186.

Daily Pivots: (S1) 0.9569; (P) 0.9595; (R1) 0.9625; More…

Outlook is USD/CHF is unchanged. Strong support is still expected at 61.8% retracement of 0.9193 to 1.0063 at 0.9525 to complete the pull back from 1.0063. On the upside, above 0.9763 minor resistance will turn bias back to the upside for retesting 1.0063 high. However, sustained break of 0.9525 will bring deeper decline to 0.9193 support.

In the bigger picture, down trend from 1.0342 (2016 high) should have completed with three waves down to 0.8756 (2021 low) already. Rise from 0.8756 is likely a medium term up trend of its own. Next target is 1.0237/0342 resistance zone. This will remain the favored case as long as 0.9471 resistance turned support holds. However, sustained break of 0.9471 will extend long term range trading with another falling leg.

Daily Pivots: (S1) 0.9868; (P) 1.0006; (R1) 1.0081; More…

USD/CHF is still bounded in range of 0.9840/1.0146 and intraday bias remains neutral. Consolidation from 1.0146 could extend further, but further rally is expected as long as 0.9840 support holds. Break of 1.0146 will resume larger up trend to 1.0283 projection level. However, sustained break of 0.9840 will now complete a double top pattern, and turn bias back to the downside for 0.9478 support instead.

In the bigger picture, up trend from 0.8756 (2021 low) is still in progress. Next target is 100% projection of 0.9149 to 1.0063 from 0.9369 at 1.0283, and then 1.0342 (2016 high). For now, this will remain the favored case as long as 0.9779 support holds, even in case of deep pull back.

Daily Pivots: (S1) 0.9551; (P) 0.9575; (R1) 0.9609; More…

A temporary low is in place at 0.9541 with today’s recovery. Intraday bias is turned neutral first. In case of another fall, we’d look for bottoming sign at 0.9523 fibonacci level to bring rebound. ON the upside, break of 0.9651 support turned resistance will indicate short term bottoming and target 0.9757 resistance. However, sustained break of 0.9523 would pave the way to retest 0.9186 low.

In the bigger picture, rise from 0.9186 low has completed at 1.0067, after failing to sustain above 1.0037 resistance. Fall from 1.0067 could extend to 61.8% retracement of 0.9816 to 1.0067 at 0.9523 and possibly below. But for now, we don’t expect a break of 0.9186 low. On the upside, firm break of 0.9866 support turned resistance will suggests that fall from 1.0067 has completed and rise from 0.9186 is resuming.

USD/CHF’s break of 0.9276 resistance last week suggests that corrective fall from 0.9372 has completed at 0.9090. Initial bias remains on the upside this week for 0.9372 first. Break will resume the choppy rise from 0.8925 to 0.9471. On the downside, below 0.9243 minor support will turn intraday bias neutral first. Overall, choppy rise from 0.8925 would still extend higher as long as 0.9090 support holds, even in case of deep retreat.

In the bigger picture, medium term outlook will be neutral at best as long as 0.9471 resistance holds. Larger down trend could still extend through 0.8756 (2021 low). However, firm break of 0.9471 will argue that the trend has already reversed and rebound the rally from 0.8756 with another impulsive move.

In the long term picture, price actions from 0.7065 (2011 low) are currently seen as developing into a long term corrective pattern, at least until a firm break of 1.0342 resistance.