Daily Pivots: (S1) 0.9896; (P) 0.9963; (R1) 1.0006; More….

Intraday bias in USD/CHF remains neutral at this point and outlook is unchanged. Considering bearish divergence condition in 4 hour MACD, break of 0.9871 support will indicate short term topping at 1.0063. Intraday bias will be turned to the downside for 38.2% retracement of 0.9193 to 1.0063 at 0.9731. On the upside, above 1.0063 will resume larger up trend.

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) 0.9868; (P) 0.9889; (R1) 0.9924; More…

Intraday bias in USD/CHF remains neutral at this point. Further rise is in favor as long as 0.9798 support holds. Break of 0.9946 will target 0.9975 resistance first. But break of 0.9798 will turn bias to the downside for retesting 0.9659/9713 support zone instead.

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) 0.8898; (P) 0.8912; (R1) 0.8926; More….

Intraday bias in USD/CHF remains neutral for the moment. On the upside, decisive break of 0.8919 resistance should confirm short term bottoming at 0.8756, on bullish convergence condition in 4 hour MACD. Considering bullish convergence condition in daily MACD too, USD/CHF could be corrective whole fall form 0.9901 in this case. Intraday bias will be turned back to the upside for 38.2% retracement of 0.9901 to 0.8756 at 0.9193. Though, break of 0.8821 minor support will bring retest of 0.8756 low instead.

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 0.9294 resistance is needed to signal medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 0.9269; (P) 0.9295; (R1) 0.9322; More….

Intraday bias in USD/CHF stays mildly on the downside for now. Correction from 0.9471 is in progress for 0.9221 support. But we’d expect strong support from 38.2% retracement of 0.8756 to 0.9471 at 0.9198 to contain downside and bring rebound. On the upside, above 0.9350 minor resistance will bring retest of 0.9471 high. However, sustained break of 0.9198 will bring deeper decline to 61.8% retracement at 0.9029.

In the bigger picture, fall from 1.0237 should have completed at 0.8756, on bullish condition in daily and weekly MACD. Current rally from 0.8756 should target 0.9901 resistance first. Break there will target 1.0237/0342 resistance zone in the medium term. This will now remain the favored case as long as 0.9044 resistance turned support holds.

Daily Pivots: (S1) 0.9064; (P) 0.9087; (R1) 0.9120; More…

USD/CHF is still staying in range of 0.8998/9200 and intraday bias remains neutral at this point. 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) 0.9886; (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) 0.9197; (P) 0.9208; (R1) 0.9223; More….

Intraday bias in USD/CHF mildly on the downside with break of 0.9176 support. Fall from 0.9341 could now target 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) 0.9486; (P) 0.9509; (R1) 0.9532; More…

Intraday bias in USD/CHF is turned neutral first with 4 hour MACD crossed below signal line. But further rise is expected as long as 0.9337 support holds. As noted before, the head and shoulder bottom formation (ls: 0.9254, h: 0.9186, rs: 0.9337) suggests near term reversal. Rise from 0.9186 should target 100% projection of 0.9186 to 0.9490 from 0.9337 at 0.9641 first. On the downside, break of 0.9337 minor support is needed to indicate completion of the rebound. Otherwise, near term outlook will be cautiously bullish even in case of retreat.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. Current development is raising the chance that it is completed. But there is no confirmation yet. Focus will now be back on 38.2% retracement of 1.0342 (2016 high) to 0.9186 (2018 low) at 0.9626. Sustained break there will add much credence 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) 0.9894; (P) 0.9916; (R1) 0.9932; More…

Intraday bias in USD/CHF remains neutral as range trading continues. On the upside, break of 0.9978 resistance will turn bias back to the upside for 1.0027 resistance first. Break there will resume whole rise form 0.9659 low. For now, downside of any down leg should be contained above 0.9841 support. But firm break there would pave the wave back to retest 0.9659 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) 0.9905; (P) 0.9932; (R1) 0.9959; More…

Intraday bias in USD/CHF stays neutral and consolidation from 1.0027 could extend further. But with 0.9843 minor support intact, further rise is still expected. 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) 0.8842; (P) 0.8864; (R1) 0.8880; More….

Intraday bias in USD/CHF is turned neutral with current retreat, and some consolidations would be seen first. Downside should be contained by 0.8727 resistance turned support to bring another rally. On the upside, above 0.8884 will resume the rise from 0.8332 to 100% projection of 0.8332 to 0.8727 from 0.8550 at 0.8954. Firm break there will pave the way to 161.8% projection at 0.9189.

In the bigger picture, a medium term bottom should be formed at 0.8332, on bullish convergence condition in W MACD, just ahead of 0.8317 long term fibonacci support, on bullish convergence condition in W MACD. It’s still early to decide if the larger down trend from 1.0146 (2022 high) is reversing. But further rise should be seen to 0.9243 resistance even as a correction.

Daily Pivots: (S1) 0.8800; (P) 0.8830; (R1) 0.8886; More….

USD/CHF’s recovery from 0.8756 extends higher today but stays below 0.8918 resistance. Intraday bias remains neutral first and another is still in favor. Break of 0.8756 will resume larger down trend to long term projection level at 0.8639. However, sustained break of 0.8918 will indicate short term bottoming, on bullish convergence condition in 4 hour MACD, after missing 61.8% projection of 0.9901 to 0.8998 from 0.9304 at 0.8746. Intraday bias will be turned back to the upside for stronger rebound, back towards 0.8998 support turned resistance.

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 0.9304 resistance is needed to signal medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 0.9452; (P) 0.9482; (R1) 0.9505; More…

USD/CHF drops sharply in early US session, but stays above 0.9337 minor support. Intraday bias remains neutral first. Another rise is expected as long as 0.9337 support holds. Above 0.9533 will target 0.9626 fibonacci level. However, break of 0.9337 will indicate that the rebound has completed. In such case, intraday bias will be turned back to the downside for retesting 0.9186 low.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. Current development is raising the chance that it is completed. But there is no confirmation yet. Focus will now be back on 38.2% retracement of 1.0342 (2016 high) to 0.9186 (2018 low) at 0.9626. Sustained break there will add much credence 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) 0.9941; (P) 0.9965; (R1) 0.9996; More….

USD/CHF is losing some upside momentum. But with 0.9332 minor support intact, intraday bias stays on the upside. Current rise from 0.9716 should target a test on 1.0128 high 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) 0.9679; (P) 0.9718; (R1) 0.9740; More….

Outlook in USD/CHF remains unchanged with focus staying on 0.9772 key resistance. Decisive break there will suggest that whole down trend form 1.0342 has completed. In that case, near term outlook will be turned bullish for 0.9860/1.0099 resistance zone. Nonetheless, with 0.9772 resistance intact, outlook remains bearish. Below 0.9587 minor support will turn bias back to the downside for retesting 0.9420 low.

In the bigger picture, focus remains on whether 0.9443 key support (2016 low) could be taken out firmly as down trend from 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) 0.8937; (P) 0.8962; (R1) 0.8995; More…

Intraday bias in USD/CHF remains neutral as sideway trading continues. On the downside, break of 0.8900 will resume the fall from 0.9146 to 0.8818 low or below. But for now, strong support is still expected from 0.8756 long term support to bring rebound. On the upside, above 0.9011 will bring stronger rise towards 0.9146 resistance.

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.

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

Intraday bias in USD/CHF remains neutral with focus on 0.9797 resistance. 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) 0.9224; (P) 0.9240; (R1) 0.9257; More….

USD/CHF rebounds strongly today but stays in established range. Intraday bias remains neutral first. Further rise will remain mildly in favor as long as 0.9090 support holds. break of 0.9372 will resume the choppy rally from 0.8925 to 0.9471 high. However, break of 0.9090 will turn bias back to the downside for 0.8925 support instead.

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) 0.9736; (P) 0.9773; (R1) 0.9801; More…..

USD/CHF drops to as low as 0.9700 so far and there is no sign of bottoming yet. The decline came deeper than we expected. Intraday bias is staying on the downside for 161.8% projection of 1.0067 to 0.9866 from 0.9981 at 0.9656 next. On the upside, above 0.9744 minor resistance will turn intraday bias neutral first. But outlook will now stay bearish as long as 0.9866 support turned resistance holds. And deeper fall will remain in favor even in case of recovery.

In the bigger picture, current development suggests that 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 1.0067 will resume the rise to 1.0342 key resistance (2016 high).

Daily Pivots: (S1) 0.9718; (P) 0.9758; (R1) 0.9807; More….

Intraday bias in USD/CHF stays neutral as this point. As long as 4 hour 55 EMA (now at 0.9806) holds, deeper fall is mildly in favor. But we’d expect 61.8% retracement of 0.9420 to 0.1.0037 at 0.9656 to contain downside and bring rebound. Sustained break of 4 hour 55 EMA will argue that the correction from 1.0037 has completed and turn focus to 0.9977 resistance for confirmation.

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.