Daily Pivots: (S1) 0.9884; (P) 0.9924; (R1) 0.9996; More…

Intraday bias in USD/CHF remains neutral at this point. Outlook is unchanged that we’d still expect strong support from 0.9848 to contain downside to complete the correction from 1.0128. On the upside, break of 0.9989 resistance will argue that such correction is completed. Intraday bias will be turned back to the upside for retesting 1.0128 high. However, decisive break of 0.9848 support will bring deeper decline to 0.9541 key support instead.

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, firm break of 0.9848 support will dampen this bullish view and turn focus back to 0.9541 key support instead.

Daily Pivots: (S1) 0.9928; (P) 0.9987; (R1) 1.0020; More…..

USD/CHF’s fall from 1.0107 extends lower. Break of 0.9980 support suggests that rebound from 0.9812 has completed. And the corrective fall from 1.0342 is still in progress and is starting another falling leg. Intraday bias is turned back to the downside for 0.9812 support. On the upside, above 1.0008 minor resistance will turn bias back to the upside for 1.0107 resistance instead.

In the bigger picture, we’re still maintaining that firm break of 1.0342 key resistance is needed to confirm underlying bullish momentum in the cross. However, the corrective nature of the fall from 1.0342 is starting to give the medium term outlook a bullish favor. Hence, in stead of looking for topping signal around 1.0342, we’d now pay closer attention to upside acceleration as USD/CHF approaches this level again.

Daily Pivots: (S1) 0.9625; (P) 0.9644; (R1) 0.9676; More…

USD/CHF’s break of 0.9669 minor resistance suggests completion of fall from 0.9802. Intraday bias is turned back to the upside for 0.9802 first. Break will target a test on 0.9901 resistance. On the downside, below 0.9588 will turn bias to the downside for 0.9502 support. Overall, price actions from 0.9901 are in progress and downside should be contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound.

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) 0.9174; (P) 0.9258; (R1) 0.9333; More…

Intraday bias in USD/CHF remains neutral for consolidation above 0.9181 temporary low. Upside should be limited by 38.2% retracement of 0.9484 to 0.9181 at 0.9436 down trend resumption. On the downside, break of 0.9181 will target 200% projection of 1.0023 to 0.9613 from 0.9848 at 0.9028 next.

In the bigger picture, current development suggests that decline from 1.0237 is the third leg of the pattern from 1.0342 (2016 high). Focus will be on 100% projection 1.0342 to 0.9186 from 1.0237 at 0.9081. Sustained break there will argue that USD/CHF is in a long term down trend, which would target 138.2% projection at 0.8639 next. For now, outlook will remain bearish as long as 0.9613 support turned resistance holds, in case of rebound.

Daily Pivots: (S1) 0.9950; (P) 0.9973; (R1) 1.0014; More…

Intraday bias in USD/CHF remains neutral at this point. On the upside, break of 1.0010 minor resistance 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) 0.9360; (P) 0.9409; (R1) 0.9439; More…

Intraday bias in USD/CHF remains neutral for the moment. Current development argues that larger fall from 0.9901 is not finished. 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.

Daily Pivots: (S1) 0.9135; (P) 0.9167; (R1) 0.9222; More….

USD/CHF dipped to 0.9101 but rebounded ahead of 0.9084 support. Intraday bias is turned neutral first. 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) 0.9130; (P) 0.9145; (R1) 0.9174; More….

Intraday bias in USD/CHF stays on the upside at this point. Current rally should target 0.9439 resistance next. On the downside, below 0.9117 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

In the bigger picture, sustained trading above 0.9146 cluster resistance (38.2% retracement of 1.0146 to 0.8551 at 0.9160) will argue that rise from 0.8551 is reversing whole down trend from 1.0146. Further rally would then be seen to 61.8% retracement at 0.9537 and above. For now, this will be the favored case as long as 55 D EMA (now at 0.8905) holds.

USD/CHF’s strong rally and break of 0.9273 last week confirms resumption of rise from 0.8925. Initial bias is now on the upside this week for 0.9471 resistance. Sustained break there will carry larger bullish implications. On the downside, though, below 0.9258 minor support will turn intraday bias neutral and bring some consolidations first.

In the bigger picture, the strong rally above 55 week EMA (now at 0.9182) 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.

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.

USD/CHF rose to 0.9241 last week but failed to break through 0.9273 resistance and retreated. Initial bias remains neutral this week first. Another rise is mildly in favor as long as 0.9128 minor support holds. Firm break of 0.9273 will resume the whole rise from 0.8925 to 100% projection of 0.8925 to 0.9273 from 0.9017 at 0.9365. On the downside, however, break of 0.9128 will turn bias back to the downside for 0.9017 support instead.

In the bigger picture, the failure to sustain above 55 week EMA (now at 0.9184) retains medium term bearish in USD/CHF. Break of 0.8925 support should resume the whole decline form 1.0342 (2016 high) through 0.8756 low. However, break of 0.9273 resistance and sustained trading above 55 week EMA will be an early sign of bullish trend reversal. Focus will then turn to 0.9471 resistance for confirmation.

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.

Daily Pivots: (S1) 0.9939; (P) 0.9965; (R1) 1.0000; More…

Intraday bias in USD/CHF remains neutral as it’s staying in range of 0.9908/1.0006. On the upside, break of 1.0006 will argue that the pull back from 1.0128 has completed. Intraday bias will be turned back to the upside for retesting 1.1028. On the downside, break of 38.2% retracement of 0.9541 to 1.0128 at 0.9904 will resume the fall from 1.0128 to 0.9848 key support level. Break there will indicate near term reversal and target 61.8% at 0.9765.

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 0.9514 will pave the way back to 0.9186 low.

USD/CHF rebounded further to 0.9061 last week but retreated since then. Initial bias stays neutral this week first, but further rally is in favor as long as 0.8918 support holds. On the upside, sustained trading above 55 D EMA (now at 0.9042) 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 0.8918 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.

In the long term picture, long term sideway pattern from 1.0342 (2016 high) is expected to continue between 0.8756/1.0342. However, sustained break of 0.8756 will open up deeper fall back towards 0.7065 (2011 low).

Daily Pivots: (S1) 0.9064; (P) 0.9102; (R1) 0.9122; More…

Sideway consolidations in USD/CHF continue and intraday bias remains neutral for the moment. On the downside, break of 0.8998 will resume larger down trend. Nevertheless, break of 0.9200 will resume the rebound towards 38.2% retracement of 0.9901 to 0.8998 at 0.9343.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low), which is still extending. Sustained trading below 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081 will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9376 resistance is needed to be the first sign of medium term bottoming.

Daily Pivots: (S1) 0.8992; (P) 0.9017; (R1) 0.9053; More….

Intraday bias in USD/CHF stays neutral as range trading continues. On the downside, below 0.8952 will target a test on 0.8886 support first. Break there will resume whole decline from 0.9243 to 0.8815 fibonacci level. However, break of 0.9111 will resume the rebound from 0.8886 instead, and target 0.9243 resistance.

In the bigger picture, outlook is mixed up by the deeper than expected pull back from 0.9243. Yet there was no follow through selling after hitting 0.8886. On the upside, break of 0.9243 resistance will revive the case of medium term bottoming at 0.8851, and turn outlook bullish. However, sustained break of 61.8% retracement of 0.8551 to 0.9243 at 0.8815 will argue that larger decline from 1.0146 is ready to resume through 0.8551 low.

Daily Pivots: (S1) 0.9821; (P) 0.9842; (R1) 0.9862; More…

USD/CHF’s extends today by taking out 0.9866 cluster resistance and hits as high as 0.9889 so far. Intraday bias is back on the upside. Sustained trading above 0.9866 will pave the way to retest 1.0067 high. On the downside, though, break of 0.9822 minor support will indicate short term topping and bring lengthier consolidations, before staging another rally.

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) 0.9304; (P) 0.9326; (R1) 0.9363; More…

Intraday bias in USD/CHF remains on the upside at this point. Current rebound from 0.9058 should target 38.2% retracement of 1.0146 to 0.9058 at 0.9474. On the downside, below 0.9289 minor support will turn intraday bias neutral first.

In the bigger picture, decline from 1.0146 is seen as part of a long term sideway pattern. As long as 38.2% retracement of 1.0146 to 0.9058 at 0.9474 holds, another fall is in favor through 0.9058. However, sustained trading above 0.9474 will indicate that the medium term trend has reversed, and open up further rally to 1.0146 again.

Daily Pivots: (S1) 0.9170; (P) 0.9214; (R1) 0.9237; More….

Outlook in USD/CHF remains unchanged and intraday bias stays neutral for the moment. 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.

USD/CHF’s consolidation from 1.0037 extended last week with a drip. But outlook is unchanged. Initial bias stays neutral this week first. We’d continue to expect downside to be contained above 0.9835 resistance turned support and bring rally resumption. On the upside break of 1.0037 will resume whole rally from 0.9420. And with sustained trading above 61.8% retracement of 1.0342 to 0.9420 at 0.9990, USD/CHF should then target a test on 1.0342 key resistance.

In the bigger picture, current development suggests that USD/CHF has defended 0.9443 (2016 low) key support level again. Rise from 0.9420 could is a medium term up move and should target a test on 1.0342 high. This represents the upper end of a long term range that started back in 2015. On the downside, break of 0.9736 support is now needed to indicate completion of the rise from 0.9420. Otherwise, further rally will remain in favor in medium term.

In the long term picture, while upside momentum is unconvincing, with 0.9443 key support intact, rise from 0.7065 (2011 low) is still expected to continue. Break of 1.0342 will target 38.2% retracement of 1.8305 (2000 high) to 0.7065 at 1.1359.

Daily Pivots: (S1) 0.9881; (P) 0.9920; (R1) 0.9952; More…..

USD/CHF’s decline accelerates to as low as 0.9812 so far. Intraday bias remains on the downside. Whole decline from 1.0342 would target 100% projection of 1.0342 to 0.9860 from 1.0169 at 0.9687 and possibly below. On the upside, break of 0.9959 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

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) 0.9005; (P) 0.9037; (R1) 0.9063; More…

USD/CHF’s decline is still in progress and intraday bias remains on the downside. Current fall should target 61.8% projection of 0.9467 to 0.9050 from 0.9197 at 0.8939. Break will target 100% projection at 0.8780 next. On the upside, break of 0.9197 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). Current development suggests that such pattern is still extending. Sustain trading below 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081 will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9376 resistance is needed to be the first sign of medium term bottoming.