Daily Pivots: (S1) 0.8951; (P) 0.9029; (R1) 0.9070; More…

Intraday bias in USD/CHF stays mildly on the downside for the moment. Corrective recovery from 0.8818 could have completed at 0.9146 already. Deeper fall would be seen back to 0.8818 and possibly below. But strong support is still needed at around 0.8756 long term support to bring another rebound. Nevertheless, for now, risk still stay on the downside as long as 0.9146 resistance holds, in case of recovery.

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) 0.9609; (P) 0.9650; (R1) 0.9697; More…

Intraday bias in USD/CHF remains on the upside at this point. Pull back from 0.9901 could have completed at 0.9502 already. Retest of 0.9901 should be seen next. However, on the downside, sustained break of 61.8% retracement of 0.9181 to 0.9901 at 0.9456 will target a test on 0.9181/6 key support zone instead.

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) 0.8777; (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) 0.9442; (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) 0.9128; (P) 0.9141; (R1) 0.9151; More….

Intraday bias in USD/CHF stays neutral at this point. Current development suggests that pull back from 0.9223 has completed already. Above 0.9157 will bring retest of 0.9223. However, break of 0.9077 support will bring retest of 0.8987. Break there will resume the fall from 0.9223 to 38.2% retracement of 0.8332 to 0.9223 at 0.8883.

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) 0.9969; (P) 0.9990; (R1) 1.0033; More…..

Intraday bias in USD/CHF remains on the upside as rebound from 0.9812 short term bottom continues. Sustained trading above 55 day EMA (now at 1.0021) will argue that whole decline from 1.0342 has completed. Further rise should then be seen to 1.0169 resistance for confirmation. On the downside, below 0.9934 minor support will turn bias back to the downside for 0.9812 instead.

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.

USD/CHF’s rebound from 0.9369 continued last week and outlook is unchanged. Triangle correction from 1.0063 could have completed at 0.9369 already. Break of 0.9884 resistance will argue that larger up trend is ready to resume through 1.0063 high. On the downside, break of 0.9691 minor support will mix up the outlook and turn intraday bias neutral first.

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.

In the long term picture, outlook is mixed with deeper than expected fall from 1.0063, but some support is seen from 55 week EMA (now at 0.9433). Overall, though, USD/CHF is seen as in sideway pattern from 1.0342 (2016 high). Range trading should continue until further development.

Daily Pivots: (S1) 0.9886; (P) 0.9938; (R1) 0.9981; More…

Intraday bias in USD/CHF remains mildly on the downside for the 0.9848 support. Firm break there will confirm near term reversal and target target 61.8% retracement of 0.9541 to 1.0128 at 0.9765. On the upside, though, break of 1.0008 resistance will indicate that the pull back from 1.0128 has completed. Intraday bias will be turned back to the upside for retesting 1.0128 high.

In the bigger picture, rise from 0.9541 could have topped at 1.0128. But as long as 0.9541 support holds, we’d still expect rise from 0.9186 to resume at a later stage. Break of 1.0128 will target 1.0342 key resistance. However, break of 0.9541 will pave the way back to 0.9186 low.

Daily Pivots: (S1) 0.9767; (P) 0.9790; (R1) 0.9808; More…

A temporary low is formed at 0.9770 with current recovery. Intraday bias in USD/CHF is turned neutral for some consolidations first. Further fall is expected as long as 0.9876 resistance holds. On the downside, below 0.9770 will resume the decline from 1.0023 and target 0.9659 low. However, break o f0.9876 will turn bias back to the upside for 1.0023 resistance.

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) 0.9938; (P) 0.9959; (R1) 0.9993; More…

USD/CHF’s break of 0.9978 resistance suggests that consolidation pattern from 1.0027 has completed at 0.9868. Intraday bias is now on the upside for retesting 1.0027 first. Break will resume whole rise from 0.9659 to 78.6% retracement of 1.0237 to 0.9659 at 1.0113. On the downside, however, break of 0.9949 minor support will turn bias to the downside to extend the consolidation with another falling leg.

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) 0.9919; (P) 0.9940; (R1) 0.9976; More…

USD/CHF weakens mildly today but stays well inside consolidation for 0.9852. Intraday bias remains neutral at this point. In case of another recovery, upside should be limited by 1.0008 support turned resistance and bring fall resumption. On the downside, break of 0.9854 will extend the decline from 1.0237 to 0.9716 cluster support (50% retracement of 0.9186 to 1.0237 at 0.9712).

In the bigger picture, USD/CHF’s break of long term trend line support is the first indication of medium term reversal. Focus is now back on 0.9879 support. Sustained break should confirm that medium term up trend from 0.9186 has completed at 1.0237 already. Further fall should be seen to 0.9716 cluster support (50% retracement of 0.9186 to 1.0237 at 0.9712) next. Break will target 61.8% retracement at 0.9587.

USD/CHF dropped sharply to as low as 0.9879 last week but formed a temporary low there and recovered. Initial bias remains neutral this week first. Another fall is mildly in favor with 1.0010 minor resistance intact. On the downside, below 0.9879 will resume the fall from 1.0124 to 0.9716 key support. Nevertheless, break of 1.0010 will turn bias back to the upside for 1.0124/28 resistance zone.

In the bigger picture, focus is back on medium term trend line (now at 0.9846). 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.

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) 0.9173; (P) 0.9211; (R1) 0.9231; More…

Intraday bias in USD/CHF remains neutral for the moment. On the upside, break of 0.9304 will extend the rebound from 0.8998 to 38.2% retracement of 0.9901 to 0.8998 at 0.9343. However, sustained break of 0.9200 will argue that the rebound has completed and turn bias back to the downside for retesting 0.8998.

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. On resumption, next target will be 138.2% projection of 1.0342 to 0.9186 from 1.0237 at 0.8639. Nevertheless, strong break of 0.9376 support turned resistance will be an early sign of trend reversal and turn focus back to 0.9901 key resistance for confirmation.

Daily Pivots: (S1) 0.8837; (P) 0.8933; (R1) 0.8988; More….

USD/CHF’s decline continues today and intraday bias stays on the downside. Fall from 0.9243 should target 100% projection of 0.9243 to 0.8886 from 0.9111 at 0.8754. On the upside, above 0.8901 minor resistance will turn intraday bias neutral and bring consolidations first. But recovery should be limited well below 0.9051 resistance to bring another fall.

In the bigger picture, price actions from 0.8551 are currently seen as a correction to the decline from 1.0146. Fall from 0.9243 is seen as the second leg for now. Deeper fall would be seen to 61.8% retracement of 0.8551 to 0.9243 at 0.8815. Sustained break there will bring retest of 0.8551 low. For now, this will remain the favored case as long as 0.9111 resistance holds.

Daily Pivots: (S1) 0.9583; (P) 0.9622; (R1) 0.9643; More……

Break of 0.9620 minor support suggests that recovery from 0.9551 is already completed at 0.9687. Intraday bias is turned back to the downside for 0.9551 low. Break will extend the decline from 1.0342 to 0.94443 key support level. At this point, we’d expect strong support from there to bring rebound. Above 0.9687 will bring another recovery. But overall, outlook will remain bearish as long as 0.9777 resistance holds.

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) 1.0175; (P) 1.0198; (R1) 1.0227; More…

Intraday bias in USD/CHF remains neutral for consolidation below 1.0230 temporary top. Some consolidations could be seen but downside should be contained by 1.0130 minor support to bring rise resumption. On the upside, above 1.0230 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) 0.9858; (P) 0.9897; (R1) 0.9962; More…..

USD/CHF’s rebound from 0.9812 extends higher today. The break of 0.9959 resistance indicates short term bottoming at 0.9812 on bullish convergence condition in 4 hour MACD. Intraday bias is turned back to the upside for 55 day EMA (now at 1.0025). Sustained trading above there will argue that whole decline from 1.0342 has completed. Further rise should then be seen to 1.0169 resistance for confirmation. On the downside, below 0.9912 minor support will turn bias back to the downside for 0.9812 instead.

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) 0.9916; (P) 0.9936; (R1) 0.9966; More…

USD/CHF drops sharply today as low as 0.9864 but recovered ahead of 0.9862 low. Outlook is unchanged at price actions from 1.0128 are forming a corrective pattern. Downside should be contained by 0.9848 support to bring rebound. On the upside, above 0.9989 will turn bias back to the upside for retesting 1.0128 high.

In the bigger picture, current development suggests that the medium term rally from 0.9186 hasn’t completed yet. Break of 1.0128 will target 1.0342 key resistance next (2016 high). On the downside, break of 0.9848 support will dampen this bullish view and turn focus back to 0.9541 key support instead.

Daily Pivots: (S1) 0.9466; (P) 0.9513; (R1) 0.9599; More….

USD/CHF rebounded notably after hitting 0.9427 and intraday bias is turned neutral firm. Some consolidations would be seen and considering that it’s close to 0.9443 key support, the rebound could extend higher. Still, break of 0.9772 resistance is needed to confirm near term reversal. Otherwise, outlook stays bearish for another decline. Break of 0.9427 will target 61.8% projection of 1.0099 to 0.9437 to 0.9772 at 0.9363.

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.

Daily Pivots: (S1) 0.9172; (P) 0.9213; (R1) 0.9235; More….

Intraday bias in USD/CHF remains neutral as consolidation continues. On the downside, below 0.9156 will target 0.9084 support. Firm break there 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. On the upside, break of 0.9293 will suggest that the pull back from 0.9372 is finished. Intraday bias will be turned back to the upside for 0.9372.

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.