Daily Pivots: (S1) 0.9984; (P) 1.0013; (R1) 1.0043; More…

USD/CHF is staying in range below 1.0056 and intraday bias remains neutral. Consolidation from there could still extend. Break of 0.9956 will bring deeper pull back. But downside should be contained by trend line support (now at 0.9778) to bring rebound. On the upside, sustained break of 1.0037 will resume recent rise for 1.0342 key resistance next

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

Daily Pivots: (S1) 0.8766; (P) 0.8822; (R1) 0.8851; More…

While further decline could be seen in USD/CHF, strong support is expected from 0.8756 to contain downside. On the upside, break of 0.8900 support turned resistance will turn intraday bias back to the upside for rebound. However, decisive break of 0.8756 will carry larger bearish implication.

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). While further decline cannot be ruled out, strong support is expected from 0.8756 long term support to bring reversal. Firm break of 0.9146 resistance should confirm medium term bottoming.

USD/CHF’s strong rebound last week suggests that corrective pull back from 1.0056 has completed at 0.9787 already. Initial bias remains on the upside this week first retesting 1.0056 first. Break will resume the rise from 0.9186 and target 61.8% projection of 0.9186 to 1.0056 from 0.9787 at 1.0325, which is close to 1.0342 key resistance. On the downside, though, below 0.9894 minor support will turn bias neutral and could extend the correction from 1.0056 for a while.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds. However, sustained break of 0.9724 will dampen this bullish view and would at least bring deeper fall to 61.8% retracement at 0.9518.

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.

USD/CHF stayed in consolidation above 0.8900 last week, with recovery capped by falling 55 D EMA (now at 0.9013). Near term outlook stays bearish for now. On the downside, break of 0.8900 will resume the fall from 0.9146 to 0.8818 low or below. On the upside, above 0.9015 will bring stronger rise towards 0.9146 resistance 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). While further decline cannot be ruled out, strong support is expected from 0.8756 long term support to bring reversal. Firm break of 0.9146 resistance should confirm medium term bottoming.

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).

USD/CHF dropped further to 0.9127 last week but turned sideway since then. Initial bias remains neutral this week first. As 38.2% retracement of 0.8756 to 0.9471 at 0.9198 was taken out already, further fall is expected as long as 0.9244 resistance holds. Break of 0.9127 will resume the decline from 0.9471 for 61.8% retracement at 0.9029 next.

In the bigger picture, rejection by 61.8% retracement of 0.9901 to 0.8756 at 0.9464 argues that rebound from 0.8756 was probably just a corrective move. That is, larger down trend from 1.0237 might be still in progress. We’ll monitor the downside momentum of the decline from 0.9471, to assess the chance of breakthrough 0.8756 low at a later stage.

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) 0.9916; (P) 0.9943; (R1) 0.9992; More…

Intraday bias in USD/CHF remains on the upside and current rise from 0.9186 is in progress for 1.0037 resistance. Decisive break there will pave the way to key resistance level at 1.0342. On the downside, below 0.9919 minor support will turn intraday bias neutral again and bring consolidation, before staging another rise.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 0.9648 resistance turned support holds, even in case of pull back.

Daily Pivots: (S1) 0.9743; (P) 0.9817; (R1) 0.9923; More….

Intraday bias in USD/CHF remains on the upside at this point. Sustained trading above 0.9864 will pave the way to next target at 1.0342 high. For now, outlook will remain bullish as long as 0.9708 support holds, in case of retreat.

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 100% projection of 0.8756 to 0.9471 from 0.9149 at 0.9864. Sustained break there will pave the way back to 1.0342 high. This will now remain the favored case as long as 0.9459 resistance turned support holds.

Daily Pivots: (S1) 0.9187; (P) 0.9213; (R1) 0.9238; More…

Intraday bias in USD?CHF remains neutral as sideway trading continues above 0.9084. On the downside, sustained break of 61.8% projection of 1.0146 to 0.9355 from 0.9545 at 0.9056 will pave the way to 100% projection at 0.8754, which is close to 0.8756 long term support. Nevertheless, on the upside, break of 0.9407 should confirm short term bottoming and turn bias back to the upside for 0.9545 structural resistance.

In the bigger picture, rise from 0.8756 (2021 low) has completed at 1.0146, well ahead of 1.0342 long term resistance (2016 high). Based on current downside momentum, fall from 1.0146 should be a medium term down trend itself. Next target is a test on 0.8756 low. Strong support should be seen there to bring rebound. Still, further decline will now be expected as long as 0.9407 resistance holds, in any case.

Daily Pivots: (S1) 0.8880; (P) 0.8906; (R1) 0.8951; More…

Intraday bias in USD/CHF remains neutral for the moment. On the upside, decisive break of 0.9001 resistance should confirm short term bottoming at 0.8850. Intraday bias will be back on the upside 55 D EMA (now at 0.9094). Sustained break there will be a strong sign of bullish reversal. On the downside, break of 0.8850 will resume larger fall from 1.0146, to 61.8% projection of 1.0146 to 0.9058 from 0.9439 at 0.8767, which is close to 0.8756 long term support. Strong support is expected there to bring rebound, at least on first attempt.

In the bigger picture, fall from 1.1046 (2022 high) is in progress for 0.8756 support (2021 low). But overall, this fall is still 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.

Daily Pivots: (S1) 0.9545; (P) 0.9722; (R1) 0.9813; More…

USD/CHF’s decline accelerated to as low as 0.9617s so far, and there is no sign of bottoming yet. Sustained trading below 61.8% retracement of 0.9369 to 1.0146 at 0.9666 will raise the chance of larger reversal and target 0.9478 support next. On the upside, above 0.9698 minor resistance will turn intraday bias neutral first.

In the bigger picture, a medium term top should be in place at 1.0146 on bearish divergence condition in daily MACD. Fall from 1.0146 support is probably a correction to the whole up trend from 0.8756 (2021 low). Firm break of 55 week EMA (now at 0.9578) will pave the way to 0.9369 support and possibly below.

Daily Pivots: (S1) 0.8899; (P) 0.8917; (R1) 0.8931; More….

USD/CHF breached 0.8943 briefly but quickly settle back in established range. Intraday bias remains neutral first. More consolidations could be seen. But downside should be contained above 0.8743 support to bring another rally. Decisive of 0.8943 will extend the rise from 0.8551 to 0.9146 cluster resistance.

In the bigger picture, rebound from 0.8551 medium term bottom is currently seen as a correction to the downtrend from 1.0146 (2022 high). Further rally would be seen to 0.9146 cluster resistance (38.2% retracement of 1.0146 to 0.8551 at 0.9160). Strong resistance could be seen there to limit upside, at least on first attempt.

Daily Pivots: (S1) 0.8971; (P) 0.9014; (R1) 0.9046; More…

Intraday bias in USD/CHF is turned neutral with today’s strong rebound. Another fall could still be seen with 0.9082 minor resistance intact. Break of 0.8982 will resume larger down trend. Though, firm break of 0.9082 will indicate short term bottoming. Intraday bias will be turned back to the upside for 0.9207 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. 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 0.9304 resistance will be an early sign of trend reversal and turn focus back to 0.9901 key resistance for confirmation.

Daily Pivots: (S1) 0.9675; (P) 0.9763; (R1) 0.9808; More….

Intraday bias in USD/CHF remains neutral for consolidation below 0.9851. In case of another fall, downside should be contained by 38.2% retracement of 0.9193 to 0.9851 at 0.9600. On the upside, firm break of 0.9851 will bring up trend resumption.

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 100% projection of 0.8756 to 0.9471 from 0.9149 at 0.9864. Sustained break there will pave the way back to 1.0342 high. This will now remain the favored case as long as 0.9459 resistance turned support holds.

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) 0.9379; (P) 0.9402; (R1) 0.9424; More…

Sideway consolidation continues in USD/CHF and intraday bias remains neutral first. On the downside, break of 0.9362 will target 100% projection of 0.9901 to 0.9502 from 0.9736 at 0.9337. Sustained break there will pave the way to retest 0.9181 low. However, firm break of 0.9453 will turn bias back to the upside for 0.9532 resistance 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). 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.

USD/CHF’s fall from 0.9243 continued to as low as 0.8675 last week, and there is no clear sign of bottoming yet. Initial bias remains on the downside this week for 161.8% projection of 0.9243 to 0.8886 from 0.9111 at 0.8533, which is close to 0.8551 low. Considering bullish convergence condition in 4H MACD, strong support could be seen there to bring rebound. Meanwhile, break of 0.8769 minor resistance should indicate short term bottoming, and turn bias back to the upside for stronger recovery.

In the bigger picture, price actions from 0.8551 are currently seen as part of a corrective pattern to the decline from 1.0146 (2022 high). Fall from 0.9243 is seen as the second leg for now. Deeper decline could be seen to 0.8551 low but strong support should be seen there to bring rebound. For now, this will remain the favored case as long as 0.8886 support turned resistance holds.

In the long term picture, there is no clear sign that down trend from 1.8305 (2000 high) has completed. With 38.2% retracement of 1.8305 to 0.7065 at 1.1359 intact, outlook is neutral at best.

Daily Pivots: (S1) 1.0059; (P) 1.0077; (R1) 1.0110; More….

USD/CHF edged higher to 1.0098 but retreated sharply since then. Intraday bias is turned neutral again for some consolidations. For now, further rise is still expected as long as 0.9988 support holds. Above 1.0098 will target 1.0128 first. Break will confirm resumption of up trend from 0.9186. Next target will be 100% projection of 0.9541 to 1.0128 from 0.9716 at 1.0303. However, break of 0.9988 will indicate rejection by 1.0128 and turn intraday bias to the downside for 0.9716 support again.

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. 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.

Daily Pivots: (S1) 0.8956; (P) 0.8967; (R1) 0.8989; More….

No change in USD/CHF’s outlook and intraday bias remains on the upside. Current rise from 0.8551 is in progress for 0.9146 cluster resistance. On the downside, however, break of 0.8893 support will argue that a short term top is possibly formed, and turn bias back to the downside for 55 D EMA (now at 0.8854).

In the bigger picture, rebound from 0.8551 medium term bottom is currently seen as a correction to the downtrend from 1.0146 (2022 high). Further rally would be seen to 0.9146 cluster resistance (38.2% retracement of 1.0146 to 0.8551 at 0.9160). Strong resistance could be seen there to limit upside, at least on first attempt.

USD/CHF’s rise from 0.9058 continued last week and hit as high as 0.9411. Initial bias stays on the upside this week for 38.2% retracement of 1.0146 to 0.9058 at 0.9474. On the downside, break of 0.9289 resistance turned support is needed to indicate completion of the rebound. Otherwise, further rally will remain in favor in case of retreat.

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 61.8% retracement at 0.9730 and above.

In the long term picture, long term sideway pattern from 1.0342 (2016 high) is extending. Overall, range trading should continue until further development.

Immediate focus in on 0.9978 resistance in USD/CHF this week. Firm break there will suggest that consolidation pattern from 1.0027 has completed at 0.9868. Further rise should then be seen to retest 1.0027 first. Break will resume whole rise from 0.9659 to 78.6% retracement of 1.0237 to 0.9659 at 1.0113. For now, near term outlook will remain cautiously bullish as long as 0.9868 support holds.

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.

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.