Daily Pivots: (S1) 0.9145; (P) 0.9168; (R1) 0.9192; More….

USD/CHF is still bounded in tight range above 0.9127 temporary low and intraday bias stays neutral first. With 0.9244 resistance intact, further fall is still expected. On the downside, below 0.9127 will extend the decline from 0.9471 to 61.8% retracement of 0.8756 to 0.9471 at 0.9029. Nevertheless, break of 0.9244 will indicate short term bottoming and turn bias to the upside for rebound.

In the bigger picture, rejection by 61.8% retracement of 0.9901 to 0.8756 at 0.9464 argues that rebound from 0.8756 was probably just a corrective move. That is, larger down trend from 1.0237 might be still in progress. We’ll monitor the downside momentum of the decline from 0.9471, to assess the chance of breakthrough 0.8756 low.

Daily Pivots: (S1) 0.9977; (P) 0.9991; (R1) 1.0014; More…

Intraday bias in USD/CHF remains neutral with focus on 1.0010 minor resistance. Firm break there will suggest that pull back from 1.0124 has completed. Intraday bias will be turned back to the upside for 1.0124/28 resistance zone. On the downside, break of 0.9879 will resume the fall from 1.0124 to 0.9716 key support.

In the bigger picture, focus is back on medium term trend line (now at 0.9849). Decisive break there will argue that whole rise from 0.9186 has completed. Further break of 0.9716 will confirm reversal and target next support level at 0.9541. Nevertheless, there is still a chance that price action from 1.0128 are forming a consolidative pattern with fall from 1.0124 as third leg. If this is the case, stronger support should be seen between 0.9716 and the trend line to contain downside.

Daily Pivots: (S1) 0.9951; (P) 0.9969; (R1) 0.9995; More…..

With 1.0018 minor resistance intact, intraday bias remains downside in USD/CHF for 0.9860 support. Recovery from 0.9860 has completed at 1.0169 and whole decline from 1.0342 is likely resuming. Break of 0.9860 will target 100% projection of 1.0342 to 0.9860 from 1.0169 at 0.9687. On the upside, above 1.0018 minor resistance will turn bias neutral. But outlook will now stay bearish as long as 1.0169 resistance holds.

In the bigger picture, USD/CHF is staying in medium term sideway pattern between 0.9443/1.0342. In any case, decisive break of 1.0342 resistance is needed to confirm underlying strength. Otherwise, we’ll stay neutral in the pair first. In case of another fall, we’d expect strong support from 0.9443/9548 support zone.

Daily Pivots: (S1) 1.0011; (P) 1.0044; (R1) 1.0081; More…..

With 1.0007 minor support intact, intraday bias remains on the upside. Rise from 0.9812 should target 1.0169 resistance first. As noted before, corrective decline fall from 1.0342 should have finished with three waves down to 0.9812 already. Break of 1.0169 should confirm this bullish case and target a test on 1.0342 high. On the downside, below 1.0007 minor support will turn bias neutral and bring retreat before staging another rally.

In the bigger picture, USD/CHF is staying in medium term sideway pattern between 0.9443/1.0342. In any case, decisive break of 1.0342 resistance is needed to confirm underlying strength. Otherwise, we’ll stay neutral in the pair first. In case of another fall, we’d expect strong support from 0.9443/9548 support zone.

Daily Pivots: (S1) 0.8885; (P) 0.8908; (R1) 0.8927; More….

Intraday bias in USD/CHF remains on the downside at this point. Deeper fall would be seen to 0.8837 support. The corrective rise from 0.8756 should have completed with three waves to 0.9044 already. Break of 0.8837 will bring retest of 0.8756 low. On the upside, above 0.8945 minor resistance will turn intraday bias neutral first.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 high). There is no clear sign of completion yet. Next target will be 138.2% projection of 1.0342 to 0.9186 from 1.0237 at 0.8639. In any case, break of 0.9295 resistance is needed to signal medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 0.9303; (P) 0.9328; (R1) 0.9362; More….

Intraday bias in USD/CHF is turned neutral with current recovery. On the downside, below 0.9293 will extend the pull back from 0.9459 to 5 day EMA (now at 0.9252). On the upside, above 0.9381 minor resistance will flip bias back to the upside. Firm break of 0.9471 will resume the rise from 0.8756 to 61.8% projection of 0.8756 to 0.9471 from 0.9090 at 0.9532.

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.

Daily Pivots: (S1) 0.8864; (P) 0.8960; (R1) 0.9013; More…

USD/CHF’s fall from 0.9146 is still in progress. Intraday bias stays on the downside for 0.8818 support and possibly below. Still, strong support is still expected from 0.8756 to bring reversal. On the upside, above 0.8983 minor resistance will turn intraday bias neutral first.

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), which might have completed at 0.8818 already, just ahead of 0.8756 long term support. Sustained trading above 0.9058 support turned resistance should confirm medium term bottoming. Further break of 0.9439 resistance will confirm bullish trend reversal.

Daily Pivots: (S1) 0.8498; (P) 0.8518; (R1) 0.8528; More….

No change in USD/CHF and intraday bias stays neutral. Consolidation from 0.8332 is extending. Stronger recovery cannot be ruled out. But outlook will stay bearish as long as 0.8665 support turned resistance holds. On the downside, break of 0.8332 will resume larger fall from 0.9243 to 0.8257 projection level.

In the bigger picture, the down trend from 1.0146 (2022 high) is in progress. Next target is 61.8% retracement of 1.0146 to 0.8551 from 0.9243 at 0.8257. Sustained break there could prompt downside acceleration to 100% projection at 0.7648. This will now remain the favored case as long as 0.8819 resistance holds.

Daily Pivots: (S1) 0.9888; (P) 0.9950; (R1) 0.9987; More…

With 0.9957 minor resistance intact, intraday bias in USD/CHF remains on the downside. Current fall from 1.0067 is in progress and would 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.

Daily Pivots: (S1) 0.9234; (P) 0.9289; (R1) 0.9347; More…

Intraday bias in USD/CHF stays neutral and outlook is unchanged. Corrective pattern from 0.9058 is still extending. Above 0.9339 will target 0.9439 resistance and possibly above. But overall, outlook will stay bearish as long as 0.9474 fibonacci level holds, and another decline through 0.9058 is expected at a later stage.

In the bigger picture, fall from 1.1046 (2022 high) should still be in progress with 38.2% retracement of 1.0146 to 0.9058 at 0.9474 intact. Rejection by 55 week EMA was a medium term bearish sign. Break of 0.9058 will resume such decline towards 0.8756 support (2021 low). But overall, such fall is still 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.

Daily Pivots: (S1) 0.9615; (P) 0.9646; (R1) 0.9676; More…..

USD/CHF is staying in tight range above 0.9613 temporary low for the moment and intraday bias stays neutral first. Deeper decline is still expected as long as 0.9807 resistance holds. But in case of deeper fall, we’d start to look for bottoming signal again as it approaches 0.9443 key support level. However, considering bullish convergence condition in 4 hour MACD, break of 0.9807 will indicate near term reversal and turn outlook bullish for 1.0099 resistance next.

In the bigger picture, USD/CHF is still bounded in medium term range of 0.9443/1.0342 for the moment. Consolidative trading would likely continue and medium term outlook remains neutral. Break of 1.0342 key resistance is needed to confirm underlying bullish momentum in the pair. Meanwhile, downside attempts should be contained by 0.9443 key support level. However, sustained break of 0.9443 will carry larger bearish implication and target 0.9 handle.

Daily Pivots: (S1) 0.9279; (P) 0.9308; (R1) 0.9334; More….

USD/CHF’s fall from 0.9367 accelerates lower today, but stays above 0.9214 support. Intraday bias remains neutral first. On the upside, break of 0.9367 will resume the rise from 0.8925 to 0.9471 key resistance next. On the downside, however, break of 0.9214 will turn bias back to the downside for 0.9017 support again.

In the bigger picture, the strong rally above 55 week EMA (now at 0.9188) now tilts favor to the case of bullish trend reversal. That is, decline from 1.3042 (2016 high) is probably completed at 0.8756 already. Sustained break of 0.9471 resistance should confirm this case and pave the way to retest 1.0342 ahead. However, rejection by 0.9471 will mix up the outlook again and retain some medium term bearishness.

USD/CHF stayed in consolidation below 1.0027 last week and outlook is unchanged. Initial bias remains neutral this week and more sideway trading could be seen. But further rise is expected as long as 0.9843 support holds. On the upside, break of 1.0027 will target 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.

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) 0.9967; (P) 1.0001; (R1) 1.0025; More…

USD/CHF cannot break through 1.0067 resistance and retreated. Intraday bias is turned neutral again. On the upside, break of 1.0067 will resume the larger rise from 0.9186. USD/CHF should then target 61.8% projection of 0.9186 to 1.0056 from 0.9787 at 1.0325, which is close to 1.0342 key resistance. However, break of 0.9926 will dampen the bullish view again.

In the bigger picture, rise from 0.9186 is seen as a leg inside the long term range pattern. After drawing support from 55 day EMA, it’s now resuming for 1.0342 key resistance. For now, we’d still cautious on strong resistance from there to limit upside. Meanwhile, break of 0.9787 support is needed to signal completion of the rise. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 0.9907; (P) 0.9930; (R1) 0.9946; More…

Intraday bias in USD/CHF is staying neutral at this point. On the downside, break of 0.9855 will extend the corrective pattern from 1.0056 with another fall. Intraday bias would be turned to the downside for 0.9787 and below. But downside should be contained by 0.9722/4 cluster support (38.2% retracement of 0.9186 to 1.0056 at 0.9724, 100% projection of 1.0056 to 0.9787 from 0.9991 at 0.9722) to bring rebound. On the upside, firm break of 0.9991 will target a test on 1.0056 high.

In the bigger picture, rise from 0.9186 is seen as a leg inside the long term range pattern. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds. Above 1.0056 will target 1.0342 (2016 high). In that case, we’d be cautious on strong resistance from 1.0342 to limit upside. However, sustained break of 0.9724 will dampen this bullish view and would at least bring deeper fall to 61.8% retracement at 0.9518.

Daily Pivots: (S1) 0.9812; (P) 0.9854; (R1) 0.9894; More…..

Intraday bias in USD/CHF is turned neutral with a temporary low in place at 0.9812. Some consolidation could be seen. But deeper fall is still expected as long as 0.9959 resistance holds. Below 0.9812 will extend the current decline from 1.0342 to 100% projection of 1.0342 to 0.9860 from 1.0169 at 0.9687 and possibly below. However, break of 0.9959 will indicate short term bottoming and turn bias back to the upside for 55 day EMA (now at 1.0022).

In the bigger picture, USD/CHF is staying in medium term sideway pattern between 0.9443/1.0342. In any case, decisive break of 1.0342 resistance is needed to confirm underlying strength. Otherwise, we’ll stay neutral in the pair first. In case of deeper fall, we’d expect strong support from 0.9443/9548 support zone.

Daily Pivots: (S1) 0.9298; (P) 0.9354; (R1) 0.9382; More…

USD/CHF’s consolidation from 0.9186 is still in progress and intraday bias remains neutral. Near term outlook stays bearish with 0.9469 resistance intact. On the downside break of 0.9186 will extend the larger down trend to 0.9115 medium term projection level next. However, considering bullish convergence condition in 4 hour MACD, break of 0.9469 will indicate near term reversal and turn outlook bullish for 55 day EMA (now at 0.9527) and above.

In the bigger picture, fall from 1.0342 is developing into a medium term down trend. Deeper decline should be seen to 100% projection of 1.0342 to 0.9420 from 1.0037 at 0.9115. Break will target 161.8% projection at 0.8545. In any case, sustained trading above 55 day EMA is needed to be the first sign of medium term reversal. Otherwise, outlook will stay bearish even in case of strong rebound.

Daily Pivots: (S1) 0.8777; (P) 0.8794; (R1) 0.8821; More….

No change in USD/CHF’s outlook as range trading continues. Intraday bias remains neutral for the moment. On the upside, decisive break of 0.8818 support turned resistance will carry larger bullish implication, and target 0.9146 cluster resistance next. However, break of 0.8688 support will indicate rejection by 0.8818, and turn bias back to the downside for retesting 0.8551 low.

In the bigger picture, a medium term bottom could be in place at 0.8551 already, on bullish convergence condition in D MACD. Sustained trading above 0.8818 support turned resistance will bring further rise to 0.9146 cluster resistance (38.2% retracement of 1.0146 to 0.8551 at 0.9160), even as a correction. Nevertheless, break of 0.8851 will resume the down trend from 1.0146 instead.

Daily Pivots: (S1) 0.9061; (P) 0.9121; (R1) 0.9154; More….

Intraday bias in USD/CHF stays on the downside at this point. Current fall from 0.9471 should target 61.8% retracement of 0.8756 to 0.9471 at 0.9029. Sustained break there will pave the way to retest 0.8756 low. On the upside, break of 0.9180 minor resistance will indicate short term bottoming and bring stronger rebound.

In the bigger picture, rejection by 61.8% retracement of 0.9901 to 0.8756 at 0.9464 argues that rebound from 0.8756 was probably just a corrective move. That is, larger down trend from 1.0237 might be still in progress. We’ll monitor the downside momentum of the decline from 0.9471, to assess the chance of breakthrough 0.8756 low at a later stage.

USD/CHF’s rebound from 0.8551 resumed last week and hit as high as 0.8943. But as a temporary top was then formed, initial bias stays neutral this week for some more consolidations. Downside of retreat should be contained above 0.8743 support to bring another rally. Break of 0.8943 will extend the rise to 0.9146 cluster resistance.

In the bigger picture, rebound from 0.8551 medium term bottom is currently seen as a correction to the downtrend from 1.0146 (2022 high). Further rally would be seen to 0.9146 cluster resistance (38.2% retracement of 1.0146 to 0.8551 at 0.9160). Strong resistance could be seen there to limit upside, at least on first attempt.

In the long term picture, there is no clear sign that down trend from 1.8305 (2000 high) has completed. With 38.2% retracement of 1.8305 to 0.7065 at 1.1359 intact, outlook is neutral at best. Sustained break of 61.8% retracement of 0.7065 (2011 low) to 1.0342 (2016 high) at 0.8317 will bring retest of 0.7065 low.