Daily Pivots: (S1) 0.9881; (P) 0.9896; (R1) 0.9912; More…

Intraday bias in USD/CHF remains neutral first as sideway trading from 1.0027 continues. Consolidation from 1.0027 might extend further through 0.9851. In that case, deeper fall could be seen back towards 0.9659 low. On the upside, break of 0.9978 will target 1.0027 first.

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) 1.0027; (P) 1.0073; (R1) 1.0098; More…..

USD/CHF lost momentum after hitting 1.0118 and intraday bias is turned neutral first. Near term outlook stays cautiously bullish as long as 0.9929 minor support holds. Fall from 1.0342 could have finished at 0.9860 already. Above 1.0118 will turn bias back to the upside for retesting 1.0342. However, break of 0.9929 will likely extend the decline from 1.0342 through 0.9860 low.

In the bigger picture, prior rejection from 1.0327 resistance argues that USD/CHF is staying in a medium term sideway pattern. 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 another fall, we’d expect strong support from 0.9443/9548 support zone. Meanwhile firm break of 1.0342 will target 38.2% retracement of 1.8305 to 0.7065 at 1.1359.

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Daily Pivots: (S1) 0.8998; (P) 0.9025; (R1) 0.9044; More….

Intraday bias in USD/CHF remains neutral and outlook is unchanged. 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.

USD/CHF edged lower to 0.9079 last week but formed a temporary low there and recovered. Initial bias is neutral this week first. Further decline is expected as long as 0.9180 minor resistance intact. Break of 0.9079 will target 61.8% retracement of 0.8756 to 0.9471 at 0.9029. Sustained break there will pave the way to retest 0.8756 low. On the upside, however, break of 0.9180 will turn bias back to the upside for stronger rebound.

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) 1.0012; (P) 1.0030; (R1) 1.0050; More…

A temporary top is formed at 1.0046 with current retreat. Intraday bias in USD/CHF is turned neutral first. On the upside, above 1.0046 will extend the rise from 0.9879 to 1.0124/28 resistance zone. Decisive break will resume larger up trend from 0.9186. On the downside, though, below 0.9977 minor support will turn bias back to the downside for 0.9879 support instead.

In the bigger picture, USD/CHF is still holding above medium term trend line. Rise from 0.9186 could still be in progress. Decisive break of 1.0128 will resume this medium term rally to 1.0342 resistance next. Meanwhile, sustained break of the trend line (now at 0.9884) 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.

Daily Pivots: (S1) 0.9265; (P) 0.9284; (R1) 0.9311; More….

Intraday bias in USD/CHF remains neutral as consolidation from 0.9331 is still extending. Overall, further rally is expected as long as 0.9162 support holds. On the upside, break of 0.9331 will target 0.9471 key resistance. Sustained break there will carry larger bullish implications. However, break of 0.9162 will turn bias back to the downside for 0.9017 support instead.

In the bigger picture, the strong rally above 55 week EMA (now at 0.9175) 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.

USD/CHF’s down trend resumed last week and hit as low as 0.8855. A temporary low could be in place and initial bias is neutral for some consolidation first. Upside of recovery should be limited by 0.8982 support turned resistance to bring another decline. On the downside, break of 0.8885 will target 61.8% projection of 0.9901 to 0.8998 from 0.9304 at 0.8746 next.

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.

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) 0.8477; (P) 0.8503; (R1) 0.8528; More….

USD/CHF’s outlook is unchanged as price actions from 0.8332 are still seen as a corrective pattern only. Intraday bias stays neutral and outlook remains bearish with 0.8665 support turned resistance intact. On the downside, break of 0.8332 will resume larger fall from 0.9243 to 0.8257 projection level.

In the bigger picture, break of 0.8551 support indicates resumption of whole decline from 1.0146 (2022 high). Next target is 61.8% retracement of 1.0146 to 0.8551 from 0.9243 at 0.8257. Sustained break there could prompt downside acceleration to 100% projection at 0.7648. This will now remain the favored case as long as 0.8819 resistance holds.

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.

Daily Pivots: (S1) 0.9928; (P) 0.9947; (R1) 0.9967; More…

UIDS/CHF’s pull back from 1.0027 extends lower today, but stays well above 0.9843 support. Intraday bias remains neutral and another rise is still in favor. 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) 0.9098; (P) 0.9125; (R1) 0.9152; More….

Intraday bias in USD/CHF is back on the downside with break of 0.9097 minor support. Retest of 0.8982 low should be seen. Firm break there will resume later down trend. On the upside, break of 0.9207 resistance is needed to be the first sign of bullish reversal. Otherwise, outlook will stay bearish in case of another rebound.

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.

USD/CHF surged to as high as 0.9328 last week but retreated since then. Initial bias remains neutral this week for some consolidations first. On the upside, above 0.9328 will resume the rally from 0.9084 for 0.9367 resistance. On the downside, below 0.9236 minor support will turn intraday bias back to the downside for 0.9084 instead.

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.

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’s fall from 0.9367 extended lower last week. The development now suggest that rebound form 0.8925 has completed with three waves up to 0.9367, on bearish divergence condition in daily MACD. Initial bias remains on the downside this week for 0.9017 support first. Break will target 0.8925 next. On the upside, however, break of 0.9251 minor resistance will turn bias back to the upside for retesting 0.9367 instead.

In the bigger picture, the corrective structure of the rebound from 0.8925 argues that fall from 0.9471 is not completed 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.

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) 0.9861; (P) 0.9886; (R1) 0.9934; More….

USD/CHF reaches as high as 0.9939 so far and intraday bias remains on the upside. Current rise from 0.9420 should target 61.8% retracement of 1.0342 to 0.9420 at 0.9990. Sustained break there will pave the way to retest 1.0342 high. On the downside, below 0.9837 minor support will turn bias neutral and bring consolidation. But outlook will remain bullish as long as 0.9736 support holds.

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 develop into a medium term move and 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 0.9587 support is now needed to indicate completion of the rise from 0.9420. Otherwise, further rally will remain in favor in medium term.

Daily Pivots: (S1) 0.9596; (P) 0.9622; (R1) 0.9637; More…

Intraday bias in USD/CHF stays neutral for the moment. Another fall remains in favor with 0.9763 resistance intact. Break of 0.9573 will extend the corrective pattern from 0.9901 to 0.9502 support. But downside should be contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound. On the upside, break of 0.9736 resistance will turn bias back to the upside 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 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) 0.9304; (P) 0.9351; (R1) 0.9381; More…

Intraday bias in USD/CHF remains on the downside at this point. Current decline form 0.9901 should target a test on 0.9181 low. We’ll looking for bottoming around there. On the upside, break of 0.9362 support turned resistance will turn intraday bias neutral first. But break of 0.9467 resistance is needed to indicate short term bottoming. Otherwise, near term outlook will stay bearish in case of recovery.

In the bigger picture, USD/CHF is still staying in long term range pattern from 1.0342, (2016 high). While deeper fall could be seen, we do not expect a firm break of 0.9181/86 support zone (2018 and 2020 low). Hence, we’d look for bottoming signal as it approaches this zone. However, sustained break there will carry long term bearish implications for next key support at 0.8336.

Daily Pivots: (S1) 0.9986; (P) 1.0011; (R1) 1.0059; More….

Intraday bias in USD/CHF remains neutral as the consolidation from 1.0037 is still in progress. Another fall could be seen. But still, downside should be contained above 0.9835 resistance turned support and bring rally resumption. Since 61.8% retracement of 1.0342 to 0.9420 at 0.9990 is already met, break of 1.0037 will turn bias to the upside for 1.0342 key resistance next.

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.

Daily Pivots: (S1) 0.9088; (P) 0.9100; (R1) 0.9126; More…

Intraday bias in USD/CHF remains neutral as consolidation form 0.8998 is extending. 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) 0.9906; (P) 0.9938; (R1) 0.9962; More…

Intraday bias in USD/CHF remains on the upside for 0.9975 key resistance. Decisive break there will confirm completion of fall form 1.0237. Further rally would then be seen to retest this high. On the downside, though, break of 0.9854 will turn intraday bias to the downside for 0.9659 low.

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) 1.0030; (P) 1.0044; (R1) 1.0065; More….

USD/CHF is staying in consolidation below 1.0098 temporary top and intraday bias remains neutral first. Another rise expected with 0.9988 support intact. On the upside, 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.