Daily Pivots: (S1) 0.9901; (P) 0.9918; (R1) 0.9937; More…

At this point, USD/CHF is still bounded in range of 0.9866/9977 in spite of today’s strong rebound. Intraday bias stays neutral first. On the upside, above 0.9977 will bring retest of 1.0067 first. Decisive break there will resume larger rally from 0.9186. On the downside, below 0.9866 will extend the fall from 1.0067 through 0.9856 to 0.9787 support. As price actions from 1.0056 are seen as a corrective pattern, downside should be contained by 38.2% retracement of 0.9186 to 1.0056 at 0.9724 to bring rebound.

In the bigger picture, current development suggests that the consolidation pattern from 1.0056 is extending with another leg. As long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds, we’d expect rise from 0.9186 to resume at a later stage to retest 1.0342 key resistance (2016 high). However, sustained break of 0.9724 will bring deeper fall, as another declining leg in the long term range pattern.

Daily Pivots: (S1) 0.9901; (P) 0.9918; (R1) 0.9937; More…

Intraday bias in USD/CHF remains neutral at this point. On the upside, above 0.9977 will bring retest of 1.0067 first. Decisive break there will resume larger rally from 0.9186. On the downside, below 0.9866 will extend the fall from 1.0067 through 0.9856 to 0.9787 support. As price actions from 1.0056 are seen as a corrective pattern, downside should be contained by 38.2% retracement of 0.9186 to 1.0056 at 0.9724 to bring rebound.

In the bigger picture, current development suggests that the consolidation pattern from 1.0056 is extending with another leg. As long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds, we’d expect rise from 0.9186 to resume at a later stage to retest 1.0342 key resistance (2016 high). However, sustained break of 0.9724 will bring deeper fall, as another declining leg in the long term range pattern.

Daily Pivots: (S1) 0.9854; (P) 0.9906; (R1) 0.9934; More…

USD/CHF struggles to get through 4 hour 55 EMA and is held well below 0.9977 resistance so far. Intraday bias remains neutral first. On the upside, above 0.9977 will bring retest of 1.0067 first. Decisive break there will resume larger rally from 0.9186. On the downside, below 0.9866 will extend the fall from 1.0067 through 0.9856 to 0.9787 support. As price actions from 1.0056 are seen as a corrective pattern, downside should be contained by 38.2% retracement of 0.9186 to 1.0056 at 0.9724 to bring rebound.

In the bigger picture, current development suggests that the consolidation pattern from 1.0056 is extending with another leg. As long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds, we’d expect rise from 0.9186 to resume at a later stage to retest 1.0342 key resistance (2016 high). However, sustained break of 0.9724 will bring deeper fall, as another declining leg in the long term range pattern.

Daily Pivots: (S1) 0.9854; (P) 0.9906; (R1) 0.9934; More…

USD/CHF recovers strongly after hitting 0.9866, ahead of 0.9856 support. Intraday bias is turned neutral again. On the upside, above 0.9977 will bring retest of 1.0067 first. Decisive break there will resume larger rally from 0.9186. On the downside, below 0.9866 will extend the fall from 1.0067 through 0.9856 to 0.9787 support. As price actions from 1.0056 are seen as a corrective pattern, downside should be contained by 38.2% retracement of 0.9186 to 1.0056 at 0.9724 to bring rebound.

In the bigger picture, current development suggests that the consolidation pattern from 1.0056 is extending with another leg. As long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds, we’d expect rise from 0.9186 to resume at a later stage to retest 1.0342 key resistance (2016 high). However, sustained break of 0.9724 will bring deeper fall, as another declining leg in the long term range pattern.

Daily Pivots: (S1) 0.9854; (P) 0.9906; (R1) 0.9934; More…

USD/CHF’s fall from 1.0067 is still in progress for 0.9856 first. Break will target 0.9787 support next. For now, USD/CHF is seen as in consolidation from 1.0056 with fall from 1.0067 as the third leg. Downside should be contained by 38.2% retracement of 0.9186 to 1.0056 at 0.9724 to bring rebound. On the upside, break of 0.9977 resistance is needed to indicate completion of the decline. Otherwise, near term outlook is mildly bearish in case of recovery.

In the bigger picture, current development suggests that the consolidation pattern from 1.0056 is extending with another leg. As long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds, we’d expect rise from 0.9186 to resume at a later stage to retest 1.0342 key resistance (2016 high). However, sustained break of 0.9724 will bring deeper fall, as another declining leg in the long term range pattern.

Daily Pivots: (S1) 0.9854; (P) 0.9906; (R1) 0.9934; More…

The break of 0.9900 support indicates resumption of fall from 1.0067. Intraday bias is turned to the downside for 0.9856 support first. Break will target 0.9787 and below. For now, USD/CHF is seen as in consolidation from 1.0056 with fall from 1.0067 as the third leg. Downside should be contained by 38.2% retracement of 0.9186 to 1.0056 at 0.9724 to bring rebound. On the upside, break of 0.9977 resistance is needed to indicate completion of the decline. Otherwise, near term outlook is mildly bearish in case of recovery.

In the bigger picture, current development suggests that the consolidation pattern from 1.0056 is extending with another leg. As long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds, we’d expect rise from 0.9186 to resume at a later stage to retest 1.0342 key resistance (2016 high). However, sustained break of 0.9724 will bring deeper fall, as another declining leg in the long term range pattern.

Daily Pivots: (S1) 0.9923; (P) 0.9951; (R1) 0.9974; More…

USD/CHF’s retreat from 0.9977 extend lower today and focus is back on 0.9900 minor support. Break will resume the fall from 1.0067 and target 0.9856 support first. On the upside, break of 0.9977 will reaffirm the case that pull back from 1.0067 is completed. And, intraday bias will be back on the upside for retesting 1.0067. Firm break there will resume whole rally from 0.9186.

In the bigger picture, as long as 0.9787 support holds, we’re favoring the bullish case. That is, rise from 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) 0.9923; (P) 0.9951; (R1) 0.9974; More…

Intraday bias in USD/CHF remains neutral for the moment. We’re slightly favoring the case that pull back from 1.0067 has completed already. On the upside, above 0.9977 minor resistance will extend the rebound from 0.9900 to retest 1.0067 high. Break will resume whole rally from 0.9186. However, on the downside, break of 0.9900 will target 0.9856 support instead.

In the bigger picture, as long as 0.9787 support holds, we’re favoring the bullish case. That is, rise from 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.

USD/CHF’s rebound from 0.9900 last week suggests that pull back from 1.0067 has completed already. But as the pair retreated after hitting 0.9977, initial bias is neutral this week first. On the upside, above 0.9977 will extend the rise from 0.9900 to retest 1.0067 high. Break will resume whole rally from 0.9186. However, on the downside, break of 0.9900 will target 0.9856 support instead.

In the bigger picture, as long as 0.9787 support holds, we’re favoring the bullish case. That is, rise from 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.

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) 0.9899; (P) 0.9925; (R1) 0.9942; More…

USD/CHF’s rebound and break of 0.9957 minor resistance suggests that pull back from 1.0067 has completed at 0.9900. More importantly, the actions from 0.9787 maintain a higher-low, higher-high pattern and near term bullishness is retained. Intraday bias is back on the upside for retesting 1.0067 first. Break will resume whole rally from 0.9186.

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) 0.9899; (P) 0.9925; (R1) 0.9942; More…

USD/CHF is staying neutral as it’s bounded in tight range of 0.9900/9957. With 0.9957 minor resistance intact, deeper decline remains mildly in favor. On the downside, break of 0.9900 will 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) 0.9899; (P) 0.9925; (R1) 0.9942; More…

Intraday bias in USD/CHF stays neutral at this point. With 0.9957 minor resistance intact, further decline is mildly in favor. Below 0.9900 will 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) 0.9899; (P) 0.9925; (R1) 0.9942; More…

Intraday bias in USD/CHF remains neutral as it’s bounded in range above 0.9900 temporary low. For now, with 0.9957 minor resistance intact, further decline is mildly in favor. Below 0.9900 will 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) 0.9916; (P) 0.9935; (R1) 0.9958; More…

USD/CHF is staying in tight range above 0.9900 temporary low and intraday bias remains neutral first. With 0.9957 minor resistance intact, further decline is mildly in favor. Below 0.9900 will 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) 0.9916; (P) 0.9935; (R1) 0.9958; More…

Intraday bias in USD/CHF remains neutral for the moment. Also, with 0.9957 minor resistance intact, further decline is mildly in favor. Below 0.9900 will 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) 0.9905; (P) 0.9924; (R1) 0.9947; More…

Intraday bias in USD/CHF remains neutral at this point. With 0.9957 minor resistance intact, further decline is mildly in favor. Below 0.9900 will 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) 0.9905; (P) 0.9924; (R1) 0.9947; More…

Intraday bias in USD/CHF is turned neutral with 4 hour MACD crossed above signal line. Another fall is mildly in favor as long as 0.9957 minor resistance holds. Below 0.9900 will 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) 0.9888; (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) 0.9888; (P) 0.9950; (R1) 0.9987; More…

USD/CHF’s fall fro 1.0067 is still in progress and intraday bias stays mildly on the downside for 0.9856 support first. 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.

USD/CHF’s steep decline last week suggested that, at least, USD/CHF is not ready for rally resumption yet. Initial bias is mildly on the downside this week for 0.9856 support first. Break there will pave the way to key support level at 0.9787. On the upside, above 0.9957 minor resistance will turn intraday bias neutral first.

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.

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.