Daily Pivots: (S1) 0.9940; (P) 0.9961; (R1) 0.9981; More…

Intraday bias in USD/CHF remains neutral for consolidation below 0.9980 temporary top. While deeper retreat cannot be ruled out, as long as 0.9848 support holds, further rise is expected. On the upside, above 0.9980 will extend the rally from 0.9541 to 1.0067 key resistance. However, considering bearish divergence condition in 4 hour MACD, break of 0.9848 will indicate reversal and turn outlook bearish.

In the bigger picture, the pullback from 1.0067 has completed at 0.9541 already. And rise from 0.9186 is likely resuming. Firm break of 1.0067 will pave the way to retest 1.0342 key resistance. We’d be cautious on strong resistance from there to limit upside to bring another medium term fall to extend long term range trading.

Daily Pivots: (S1) 0.9322; (P) 0.9340; (R1) 0.9365; More….

USD/CHF’s strong rally and break of 0.9380 resistance suggests that correction from 0.9459 has completed with three waves down to 0.9193. Intraday bias is back on the upside for 0.9459 resistance first. Break there should resume larger rise from 0.8756 to 61.8% projection of 0.8756 to 0.9471 from 0.9149 at 0.9591. For now, further rise will remain in favor as long as 0.9258 support holds, in case of 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 whole down trend form 1.0342 (2016 high), has completed with waves down to 0.8756. A medium term up trend should be set up to target 1.0237/0342 resistance zone.

USD/CHF’s rebound from 0.9181 extended to as high as 0.9901 last week. The break of 0.9484 resistance should indicate completion of fall from 1.0237. Initial bias remains is now on the upside this week for 1.0023 resistance. Break will target 1.0237 high. On the downside, below 0.9649 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

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). Further rise could be seen to retest 1.0237 high. After all, medium term range trading will likely continue between 0.9181/1.0237 for some 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) 0.9585; (P) 0.9612; (R1) 0.9645; More….

At this point, deeper fall is mildly in favor in USD/CHF for 0.9420 support. Also, with 0.9772 resistance intact, outlook remains bearish. Break of 0.9420 will resume medium term fall from 1.0342 and target next long term fibonacci level at 0.9090. However, firm break of 0.9772 will indicate trend reversal and turn outlook bullish.

In the bigger picture, current development suggests that 0.9443 key support (2016 low) could be taken out firmly as down trend form 1.0342 extends. There are various interpretation of the price actions. But in any case, medium term outlook will stay bearish as long as 0.9772 resistance holds. Current down trend could extend to 38.2% retracement of 0.7065 (2011 low) to 1.0342 (2016 high) at 0.9090. However, break of 0.9772 will indicate that USD/CHF has successfully defended 0.9443 again and turn outlook bullish for 1.0099 resistance.

Daily Pivots: (S1) 0.9132; (P) 0.9176; (R1) 0.9203; More….

Intraday bias in USD/JPY remains on the downside as fall form 0.9341 is in progress for 0.9090 near term support. Firm break there will argue that choppy rise from 0.8925 has completed and bring deeper decline to this support. Nevertheless, above 0.9217 minor resistance will turn intraday bias neutral again, and retain some mild near term bullish flavor.

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.

Daily Pivots: (S1) 0.9209; (P) 0.9236; (R1) 0.9264; More…

Intraday bias in USD/CHF stays neutral at this point. On the upside, firm break of 0.9289 resistance will confirm short term bottoming at 0.9058, and bring stronger rise to 0.9407 resistance. On the downside, however, sustained break of 0.9058 will resume larger decline from 1.0146 instead.

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 should be a medium term down trend itself. Next target is a test on 0.8756 low. Strong support should be seen there to bring rebound. Still, further decline will be expected as long as 0.9407 resistance holds, in any case.

USD/CHF drops sharply today but stays above 0.9827 minor support. intraday bias remains neutral first. On the downside, below 0.9834 will probably extend the correction from 1.0037 through 0.9734. But we’d expect strong support from 61.8% retracement of 0.9420 to 0.1.0037 at 0.9656 to complete the correction from 1.0037 and bring rebound. On the upside, above 0.9977 will resume the rebound from 0.9734 for 1.0037 resistance.

In the bigger picture, range trading continues between 0.9420/1.0342. At this point, 0.9420 appears to be a strong support level. Therefore, in case of decline attempt, we don’t expect a firm break of this level. Nonetheless, strong break of 1.0342 is also needed to confirm upside momentum. Otherwise, medium term outlook will stay neutral.

Daily Pivots: (S1) 0.9366; (P) 0.9455; (R1) 0.9517; More…

Intraday bias in USD/CHF remains neutral for consolidation above0.9369 temporary low. Upside of recovery should be limited below 0.9648 resistance to bring another decline. Break of 0.9369 will resume larger fall to 100% projection of 0.9884 to 0.9468 from 0.9648 at 0.9232.

In the bigger picture, break of 0.9471 support turned resistance argues that medium term up trend from 0.8756 has completed with three waves up to 1.0063. Long term sideway pattern might have started another falling leg. Deeper decline would now be in favor as long as 0.9648 resistance holds, to 0.9149 structural support. Sustained break there could pave the way back to 0.8756.

Daily Pivots: (S1) 0.9720; (P) 0.9747; (R1) 0.9787; More…

USD/CHF is still limited below 0.9797 resistance despite current rebound. Intraday bias remains neutral first. On the upside, break of 0.9797 will resume rise from 0.9502 and target retest of 0.9901 high. On the downside, break of 0.9592 support will bring deeper decline. But downside should be contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound. Overall, consolidation from 0.9901 is still in progress and could extend further.

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 form 0.9181 through 1.0023 resistance. After all, medium term range trading will likely continue between 0.9181/1.0237 for some more time.

Daily Pivots: (S1) 1.0188; (P) 1.0208; (R1) 1.0224; More…

USD/CHF edged higher to 1.0237 but lacks follow through selling. Intraday bias remains neutral and some more consolidations would likely be seen first. Downside of retreat should be contained by 1.0130 minor support to bring rise resumption. On the upside, above 1.0237 will extend recent rally to 100% projection of 0.9716 to 1.0124 from 0.9879 at 1.0287, and then 1.0342 key resistance. However, break of 1.0130 will indicate short term topping and bring deeper retreat first.

In the bigger picture, medium term up trend from 0.9186 is extending. Current rise should target 1.0342 resistance next. For now, we’d be cautious on strong resistance from there to limit upside, until we see medium term upside acceleration. On the downside, break of 0.9879 support is needed to indicate reversal. Otherwise, outlook will stay bullish in case of deep pull back.

Daily Pivots: (S1) 0.9857; (P) 0.9873; (R1) 0.9893; More…

USD/CHF’s strong rebound ahead of 0.9841 support suggests it’s merely in consolidation pattern from 1.0027, rather than reversing the rise from 0.9659. Intraday bias remains neutral first. Further rise is in favor as long as 0.9841 support holds. Break of 0.9970 will bring retest of 1.0027 resistance next. On the downside, though, break of 0.9841 will indicate completion of whole rise from 0.9659 and turn outlook bearish for retesting this low.

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.

Daily Pivots: (S1) 0.9149; (P) 0.9166; (R1) 0.9192; More….

Intraday bias in USD/CHF remains neutral for the moment. On the upside, break of 0.9200 resistance will argue that fall from 0.9372 has completed with three waves down to 0.9101. Intraday bias will be back on the upside for 0.9372 resistance. On the downside, sustained break of 0.9084 support should confirm that choppy rise from 0.8925 has completed, and suggests that fall from 0.9471 is resuming. Deeper decline would be seen through 0.8925.

In the bigger picture, the corrective structure of the rebound from 0.8925 argues that fall from 0.9471 is not complete yet. It could either be the second leg of pattern from 0.8756 (2021 low), or resuming larger down trend from 1.0237 (2018 high). We’d pay attention to the downside momentum and assess the odds later. But for now, medium term outlook will be neutral at best as long as 0.9471 resistance holds.

Daily Pivots: (S1) 0.9989; (P) 1.0009; (R1) 1.0023; More….

USD/CHF’s rise from 0.9716 resumed quickly after brief consolidation. Intraday bias is back on the upside for 1.0128 key resistance. Decisive break there will resume larger up trend from 0.9186. On the upside, below 0.9988 minor support will turn intraday bias neutral again. But any retreat should be contained by 0.9908 support to bring rise resumption.

In the bigger picture, USD/CHF drew strong support from medium term trend line and rebounded. That suggests rise from 0.9186 is still in progress. Further break of 1.0128 will confirm up trend resumption and target 1.0342 key resistance. Nevertheless, break of 0.9716 will dampen this bullish view and at least bring deeper fall to 0.9541 key support.

Daily Pivots: (S1) 0.8823; (P) 0.8857; (R1) 0.8894; More…

Intraday bias in USD/CHF stays on the downside and outlook is unchanged. The down trend from 1.0146 would target 61.8% projection of 1.0146 to 0.9058 from 0.9439 at 0.8767, which is close to 0.8756 long term support. Strong support is expected there to bring rebound, at least on first attempt. On the upside, break of 0.8993 resistance will indicate short term bottoming, on bullish convergence condition in 4H MACD, and turn bias back to the upside for stronger rebound.

In the bigger picture, fall from 1.1046 (2022 high) is in progress for 0.8756 support (2021 low). But overall, this fall is still 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) 0.9919; (P) 0.9963; (R1) 0.9999; More…

Intraday bias in USD/CHF remains neutral for the moment as consolidation from 1.0027 is extending. Further rise is expected as long as 0.9843 support holds. On the upside, break of 1.0027 will resume the rise from 0.9659 for 78.6% retracement of 1.0237 to 0.9659 at 1.0113 next. Break will target retest on 1.0237 high.

In the bigger picture, corrective fall from 1.0237 should have completed at 0.9659 already, ahead of 61.8% retracement of 0.9186 to 1.0237 at 0.9587. But decisive break of 1.0237 is needed to indicate up trend resumption. Otherwise, medium term outlook will stay neutral first. Meanwhile, break of 0.9695 support will extend the correction to 0.9541 support instead.

Daily Pivots: (S1) 0.9895; (P) 0.9913; (R1) 0.9938; More…

Focus remains on 0.9929 resistance. Firm break will resume the choppy rise from 0.9659 to 0.9975 resistance next. On the downside, break of 0.9798 will revive the case that recovery from 0.9659 has completed at 0.9929. Further fall should then be seen to 0.9713 support.

In the bigger picture, the structure of the fall from 1.0237 suggests that it’s a corrective move. Break of 0.9975 will argue that such correction has completed at 0.9659, ahead of 61.8% retracement of 0.9186 to 1.0237 at 0.9587. But decisive break of 1.0237 is needed to indicate up trend resumption. Otherwise, medium term outlook will stay neutral first. Meanwhile, break of 0.9695 support will extend the correction to 0.9541 support instead.

Daily Pivots: (S1) 0.9767; (P) 0.9834; (R1) 0.9924; More…

With 4 hour MACD crossed below signal line, a temporary top is formed at 0.9901 in USD/CHF. Intraday bias is turned neutral for some consolidation first. Downside should be contained by 0.9649 support to bring another rally. As noted before, fall form 1.0237 should have completed at 0.9181. Above 0.9901 will target 1.0023 resistance and then 1.0237.

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). Further rise could be seen to retest 1.0237 high. After all, medium term range trading will likely continue between 0.9181/1.0237 for some time.

Daily Pivots: (S1) 0.9997; (P) 1.0030; (R1) 1.0053; More….

Intraday bias in USD/CHF is turned neutral first with current retreat. But further rally is expected with 0.9871 support intact. Above 1.0063 will start next medium term projection level at 1.0306. However, considering bearish divergence condition in 4 hour MACD, break of 0.9871 support will indicate short term topping, and turn bias to the downside for pull back.

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 161.8% projection of 0.8756 to 0.9471 from 0.9149 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.

Daily Pivots: (S1) 0.9611; (P) 0.9634; (R1) 0.9669; More…..

USD/CHF’s rebound from 0.9599 extends higher today but it’s kept below 0.9757 resistance. Intraday bias says neutral first. Considering bullish convergence condition in 4 hour MACD, even in case of another fall, downside will likely be contained by 0.9523 to bring rebound. On the upside, break of 0.9757 will suggests that fall from 1.0067 has formed a short term bottom. In such case, further rise would be seen back to 55 day EMA (now at 0.9809).

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 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.

Daily Pivots: (S1) 0.9899; (P) 0.9925; (R1) 0.9942; More…

Intraday bias in USD/CHF remains neutral as it’s bounded in range above 0.9900 temporary low. For now, with 0.9957 minor resistance intact, further decline is mildly in favor. Below 0.9900 will target 0.9856 support. Break there will pave the way to key support level at 0.9787. On the upside, above 0.9957 minor resistance will turn bias back to the upside for retesting 1.0067.

In the bigger picture, as long as 0.9787 support holds, we’re still favoring the bullish case. That is, rise fro 0.9787 is resuming the whole up trend from 0.9186 and should target 1.0342 key resistance on resumption. However, break of 0.9787 will indicate medium term reversal and turn outlook bearish.