Daily Pivots: (S1) 0.9938; (P) 0.9949; (R1) 0.9967; More….

USD/CHF’s rally continues today and break of 0.9963 resistance should confirm the bullish case. That is, corrective fall from 1.0128 has completed at 0.9716 already. Intraday bias is back on the upside for retesting 1.0128 next. On the downside, below 0.9932 minor support will turn intraday bias neutral again. But near term outlook will remain cautiously bullish as long as 0.9856 minor support holds.

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

Daily Pivots: (S1) 0.9938; (P) 0.9949; (R1) 0.9967; More….

USD/CHF is losing some upside momentum as seen with 4 hour MACD crossed below signal line. Intraday bias is turned neutral first. On the upside, break of 0.9963 resistance should confirm completion of corrective fall from 1.0128 to 0.9716. Further rise should then be seen to retest 1.0128. And for now, near term outlook will remain cautiously bullish as long as 0.9856 minor support holds.

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

USD/CHF’s strong rebound and decisive break of the near term falling channel suggests that corrective pull back from 1.0128 has completed at 0.9716 already. Initial bias remains on the upside this week. Firm break of 0.9963 will confirm this bullish case and target retesting 1.0128 high. Also, in case of retreat, break of 0.9856 is needed to confirm completion of the rebound. Otherwise, further rise will remain in favor.

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. Break of 0.9963 will affirm this bullish case. 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.

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) 0.9903; (P) 0.9929; (R1) 0.9969; More….

USD/CHF’s rebound from 0.9716 is still in progress and intraday bias stays on the upside for 0.9963 resistance first. Break there should confirm completion of corrective fall from 1.0128 to 0.9716. Further rise should then be seen to retest 1.0128. However, break of 0.9856 minor support will turn bias back to the downside for 0.9716 low.

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

Daily Pivots: (S1) 0.9903; (P) 0.9929; (R1) 0.9969; More….

Intraday bias in USD/CHF remains on the upside. Current rebound from 0.9716 is targeting 0.9963 resistance first. Break there should confirm completion of corrective fall from 1.0128 to 0.9716. Further rise should then be seen to retest 1.0128. However, break of 0.9856 minor support will turn bias back to the downside for 0.9716 low.

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

Daily Pivots: (S1) 0.9880; (P) 0.9896; (R1) 0.9919; More….

USD/CHF’s rebound from 0.9716 extends to as high as 0.9941 so far. Intraday bias remains on the upside for 0.9963 resistance. Break there should confirm completion of corrective fall from 1.0128 to 0.9716. Further rise should then be seen to retest 1.0128. However, break of 0.9856 minor support will turn bias back to the downside for 0.9716 low.

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

Daily Pivots: (S1) 0.9880; (P) 0.9896; (R1) 0.9919; More….

Intraday bias in USD/CHF remains cautiously on the upside for 0.9963 resistance. Break there should confirm completion of corrective fall from 1.0128 to 0.9716. Further rise should then be seen to retest 1.0128. However, break of 0.9800 minor support will turn bias back to the downside. Corrective fall from 1.0128 would extend through 0.9716 to 0.9541 cluster support (61.8% retracement of 0.9186 to 1.0128 at 0.9546) instead.

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

Daily Pivots: (S1) 0.9820; (P) 0.9857; (R1) 0.9914; More….

USD/CHF rebounds to as high as 0.9903 so far today. Breach of the ner term falling channel resistance argues that correction from 1.0128 might have completed earlier than expected at 0.9716. Intraday bias is now cautiously on the upside for 0.9963 resistance first. Decisive break there would add more credence to this bullish case and target retest of 1.0128. However, break of 0.9800 minor support will turn bias back to the downside. Corrective fall from 1.0128 would extend through 0.9716 to 0.9541 cluster support (61.8% retracement of 0.9186 to 1.0128 at 0.9546) instead.

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

Daily Pivots: (S1) 0.9820; (P) 0.9857; (R1) 0.9914; More….

USD/CHF’s rebound from 0.9716 extends higher today but it’s staying inside near term falling channel. Intraday bias remains neutral first. Fall from 1.0128 could extend lower. Break of 0.9800 minor support will turn bias back to the downside. Further break of 0.9716 will target 0.9541 cluster support (61.8% retracement of 0.9186 to 1.0128 at 0.9546). Nevertheless, firm break of 0.9963 will suggest that the pull back from 1.0128 is completed. Near term outlook will be turned bullish for 1.0128.

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

Daily Pivots: (S1) 0.9788; (P) 0.9820; (R1) 0.9840; More….

Intraday bias in USD/CHF remains neutral for the moment. As noted before, fall from 1.0128 is seen as correcting whole rise from 0.9186. Deeper fall is in favor. On the downside, break of 0.9716 will target 0.9541 cluster support (61.8% retracement of 0.9186 to 1.0128 at 0.9546). Nevertheless, firm break of 0.9963 will suggest that the pull back is completed. Near term outlook will be turned bullish for 1.0128 .

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

Daily Pivots: (S1) 0.9788; (P) 0.9820; (R1) 0.9840; More….

Intraday bias in USD/CHF remains neutral for the moment. As noted before, fall from 1.0128 is seen as correcting whole rise from 0.9186. Deeper fall is in favor. ON the downside, break of 0.9716 will target 0.9541 cluster support (61.8% retracement of 0.9186 to 1.0128 at 0.9546). Nevertheless, firm break of 0.9963 will suggest that the pull back is completed. Near term outlook will be turned bullish for 1.0128 .

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

Daily Pivots: (S1) 0.9757; (P) 0.9803; (R1) 0.9891; More….

Intraday bias in USD/CHF remains neutral for now. As noted before, fall from 1.0128 is seen as correcting whole rise from 0.9186. Deeper fall is in favor. ON the downside, break of 0.9716 will target 0.9541 cluster support (61.8% retracement of 0.9186 to 1.0128 at 0.9546). Nevertheless, firm break of 0.9963 will suggest that the pull back is completed. Near term outlook will be turned bullish for 1.0128 .

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

Daily Pivots: (S1) 0.9817; (P) 0.9837; (R1) 0.9860; More….

USD/CHF’s choppy fall from 1.0128 extended to as low as 0.9716 last week before forming a temporary low and recovered. Initial bias remains neutral this week for some consolidations first. The deeper then expected decline argues that it’s correcting whole rise from 0.9186. On the downside, break of 0.9716 will target 0.9541 cluster support (61.8% retracement of 0.9186 to 1.0128 at 0.9546).

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

USD/CHF’s choppy fall from 1.0128 extended to as low as 0.9716 last week before forming a temporary low and recovered. Initial bias remains neutral this week for some consolidations first. The deeper then expected decline argues that it’s correcting whole rise from 0.9186. On the downside, break of 0.9716 will target 0.9541 cluster support (61.8% retracement of 0.9186 to 1.0128 at 0.9546).

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

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) 0.9757; (P) 0.9803; (R1) 0.9891; More….

Intraday bias in USD/CHF remains neutral at this point. We’d expect rebound from 0.9716 to be limited well below 0.9963 resistance to bring another decline. The fall from 1.0128 should be correcting whole rise from 0.9186. Below 0.9716 will target 0.9541 (61.8% retracement of 0.9186 to 1.0128 at 0.9546).

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

Daily Pivots: (S1) 0.9757; (P) 0.9803; (R1) 0.9891; More….

Intraday bias in USD/CHF remains neutral at this point. Recovery from 0.9716 should be limited well below 0.9963 resistance to bring another decline. Current fall from 1.0128 should be correcting whole rise from 0.9186. Below 0.9716 will target 0.9541 (61.8% retracement of 0.9186 to 1.0128 at 0.9546).

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

Daily Pivots: (S1) 0.9710; (P) 0.9766; (R1) 0.9799; More….

USD/CHF recovers after dropping support from near term channel. Intraday bias is turned neutral for some consolidations. But upside of recovery should be limited well below 0.9963 resistance to bring another decline. Current fall from 1.0128 should be correcting whole rise from 0.9186. Below 0.9716 will target 0.9541 (61.8% retracement of 0.9186 to 1.0128 at 0.9546).

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

Daily Pivots: (S1) 0.9710; (P) 0.9766; (R1) 0.9799; More….

USD/CHF’s decline from 1.0128 accelerated to as low as 0.9716. The deeper than expected decline suggests that fall from 1.0128 is correcting whole rise from 0.9186. Intraday bias remains on the downside for next key level at 0.9541 (61.8% retracement of 0.9186 to 1.0128 at 0.9546). On the upside, above 0.9787 minor resistance will turn intraday bias neutral first. But break of 0.9963 resistance is needed to confirm completion of the fall. Otherwise, deeper decline will remain in favor even in case of recovery.

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

Daily Pivots: (S1) 0.9790; (P) 0.9812; (R1) 0.9837; More….

USD/CHF’s decline accelerates to as low as 0.9732 so far. The break of 0.9765/8 cluster support and downside acceleration argues that fall from 1.0128 is not correcting the rise from 0.9541, but that from 0.9186. Intraday bias stays on the downside for next key level at 0.9541 (61.8% retracement of 0.9186 to 1.0128 at 0.9546. On the upside, break of 0.9834 minor resistance is now needed to be the first sign of near term bottoming. Otherwise, further decline will remain in favor even in case of recovery.

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

Daily Pivots: (S1) 0.9790; (P) 0.9812; (R1) 0.9837; More…

USD/CHF’s correction from 1.0128 extends to as low as 0.9778 so far today. At this point, we’d expect downside to be contained by 0.9765/8 cluster support (61.8% retracement of 0.9541 to 1.0128 at 0.9765, 38.2% retracement of 0.9186 to 1.0128 at 0.9768) to bring rebound. On the upside, break of 0.9834 minor resistance will turn bias back to the upside for 0.9963 resistance. Break will indicate completion of the correction and target 1.0128 high. However, sustained break of 0.9765/8 will bring deeper fall back to 0.9541 support next.

In the bigger picture, while the fall from 1.0128 was slightly deeper than expected, the structure suggests it’s a corrective move. As long as 0.9765/8 cluster support (61.8% retracement of 0.9541 to 1.0128 at 0.9765, 38.2% retracement of 0.9186 to 1.0128 at 0.9768) holds, we’d expect up trend from 0.9541 and 0.9186 to resume later through 1.0128. However firm break of 0.9765/8 will argue that the trend has reversed. Further break of 0.9541 support will confirm this bearish scenario and bring deeper fall back to 0.9186 low.