USD/CHF edged lower to 0.8038 last week but recovered. A short term bottom could be formed on bullish convergence condition in 4H MACD. Further rise is in favor this week as long as 0.8196 minor support holds. Nevertheless, upside should be limited by 38.2% retracement of 0.9200 to 0.8038 at 0.8482. On the downside, below 0.8196 minor support will bring retest of 0.8038. Firm break there will resume larger down trend.

In the bigger picture, long term down trend from 1.0342 (2017 high) is still in progress and met 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.8079 already. In any case, outlook will stay bearish as long as 55 W EMA (now at 0.8801) holds. Sustained break of 0.8079 will target 100% projection at 0.7382.

In the long term picture, price action from 0.7065 (2011 low ) are seen as a corrective pattern to the multi-decade down trend from 1.8305 (2000 high). It’s uncertain if the fall from 1.0342 is the second leg of the pattern, or resumption of the down trend. But in either case, sustained trading below 61.8% retracement of 0.7065 to 1.0342 at 0.8317 will pave the way back to 0.7065.

Daily Pivots: (S1) 0.8237; (P) 0.8273; (R1) 0.8306; More….

USD/CHF’s corrective recovery from 0.8038 is still in progress and intraday bias stays on the upside. Further rise would be seen but upside should be limited by 38.2% retracement of 0.9200 to 0.8038 at 0.8482. On the downside, below 0.8196 minor support will bring retest of 0.8038. Firm break there will resume larger down trend.

In the bigger picture, long term down trend from 1.0342 (2017 high) is still in progress and met 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.8079 already. In any case, outlook will stay bearish as long as 55 W EMA (now at 0.8794) holds. Sustained break of 0.8079 will target 100% projection at 0.7382.

Daily Pivots: (S1) 0.8237; (P) 0.8273; (R1) 0.8306; More….

Intraday bias in USD/CHF remains mildly on the upside for the moment. Corrective recovery from 0.8038 short term bottom could extend to 38.2% retracement of 0.9200 to 0.8038 at 0.8482. But upside should be limited there. On the downside, break of 0.8038 will resume larger down trend.

In the bigger picture, long term down trend from 1.0342 (2017 high) is still in progress and met 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.8079 already. In any case, outlook will stay bearish as long as 55 W EMA (now at 0.8794) holds. Sustained break of 0.8079 will target 100% projection at 0.7382.

Daily Pivots: (S1) 0.8215; (P) 0.8264; (R1) 0.8355; More….

USD/CHF’s rebound from 0.8038 is still in progress and intraday bias stays mildly on the upside. However, strong resistance should be seen from 38.2% retracement of 0.9200 to 0.8038 at 0.8482 to limit upside. On the downside, break of 0.8038 will resume larger down trend.

In the bigger picture, long term down trend from 1.0342 (2017 high) is still in progress and met 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.8079 already. In any case, outlook will stay bearish as long as 55 W EMA (now at 0.8794) holds. Sustained break of 0.8079 will target 100% projection at 0.7382.

Daily Pivots: (S1) 0.8215; (P) 0.8264; (R1) 0.8355; More…

Intraday bias in USD/CHF stays on the upside, as rebound from 0.8038 short term bottom could extend to 38.2% retracement of 0.9200 to 0.8038 at 0.8482. But strong resistance should be seen there to limit upside. On the downside, break of 0.8038 will resume larger down trend.

In the bigger picture, long term down trend from 1.0342 (2017 high) is still in progress and met 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.8079 already. In any case, outlook will stay bearish as long as 55 W EMA (now at 0.8794) holds. Sustained break of 0.8079 will target 100% projection at 0.7382.

Daily Pivots: (S1) 0.8106; (P) 0.8149; (R1) 0.8233; More…

Intraday bias in USDCHF is mildly on the upside at this point. Rebound from 0.8038 short term bottom could extend to 38.2% retracement of 0.9200 to 0.8038 at 0.8482. But strong resistance should be seen there to limit upside. On the downside, break of 0.8038 will resume larger down trend.

In the bigger picture, long term down trend from 1.0342 (2017 high) is still in progress and met 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.8079 already. In any case, outlook will stay bearish as long as 55 W EMA (now at 0.8794) holds. Sustained break of 0.8079 will target 100% projection at 0.7382.

Daily Pivots: (S1) 0.8106; (P) 0.8149; (R1) 0.8233; More…

USD/CHF’s break of 0.8196 minor resistance suggests short term bottoming at 0.8038, on bullish convergence condition in 4H MACD. Intraday bias is back on the upside for stronger recovery to 38.2% retracement of 0.9200 to 0.8038 at 0.8482. Strong resistance should be seen there to limit upside. On the downside, break of 0.8038 will resume larger down trend.

In the bigger picture, long term down trend from 1.0342 (2017 high) is still in progress and met 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.8079 already. In any case, outlook will stay bearish as long as 55 W EMA (now at 0.8794) holds. Sustained break of 0.8079 will target 100% projection at 0.7382.

Daily Pivots: (S1) 0.8026; (P) 0.8104; (R1) 0.8169; More…

Further decline is expected in USD/CHF with 0.8196 resistance intact. Current down trend should target 200% projection of 0.9196 to 0.8757 from 0.8854 at 0.7976 next. Nevertheless, considering bullish convergence condition in 4H MACD, break of 0.8196 will indicate short term bottoming, and turn bias back to the upside for stronger rebound.

In the bigger picture, the break of 0.8332 (2023 low) confirms resumption of long term down trend from 1.0342 (2017 high). Next target is 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9196 at 0.8075. Firm break there will target 100% projection at 0.7382. In any case, outlook will now stay bearish as long as 55 W EMA (now at 0.8794) holds.

Daily Pivots: (S1) 0.8026; (P) 0.8104; (R1) 0.8169; More…

Intraday bias in USD/CHF remains on the downside for the moment. Current down trend should target 200% projection of 0.9196 to 0.8757 from 0.8854 at 0.7976 next. On the upside, above 0.8196 minor resistance will turn intraday bias neutral and bring consolidations again first.

In the bigger picture, the break of 0.8332 (2023 low) confirms resumption of long term down trend from 1.0342 (2017 high). Next target is 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9196 at 0.8075. Firm break there will target 100% projection at 0.7382. In any case, outlook will now stay bearish as long as 55 W EMA (now at 0.8794) holds.

Daily Pivots: (S1) 0.8144; (P) 0.8176; (R1) 0.8195; More…

Intraday bias in USD/CHF is back on the downside with break of 0.8098. Current down trend should target 200% projection of 0.9196 to 0.8757 from 0.8854 at 0.7976 next. On the upside, above 0.8196 minor resistance will turn intraday bias neutral and bring consolidations again first.

In the bigger picture, the break of 0.8332 (2023 low) confirms resumption of long term down trend from 1.0342 (2017 high). Next target is 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9196 at 0.8075. Firm break there will target 100% projection at 0.7382. In any case, outlook will now stay bearish as long as 55 W EMA (now at 0.8794) holds.

Daily Pivots: (S1) 0.8092; (P) 0.8163; (R1) 0.8206; More…

Intraday bias in USD/CHF stays neutral for consolidations above 0.8098. While stronger recovery might be seen, upside should be limited by 55 4H EMA (now at 0.8313) to bring another fall. On the downside, break of 0.8098 will resume recent down trend to 200% projection of 0.9196 to 0.8757 from 0.8854 at 0.7976 next. Nevertheless, sustained break of 55 4H EMA will confirm short term bottoming, and turn bias back to the upside for stronger rebound.

In the bigger picture, the break of 0.8332 (2023 low) confirms resumption of long term down trend from 1.0342 (2017 high). Next target is 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9196 at 0.8075. Firm break there will target 100% projection at 0.7382. In any case, outlook will now stay bearish as long as 55 W EMA (now at 0.8821) holds.

Daily Pivots: (S1) 0.8092; (P) 0.8163; (R1) 0.8206; More…

Intraday bias in USD/CHF remains neutral as consolidations continues above 0.8098. While stronger recovery might be seen, upside should be limited by 55 4H EMA (now at 0.8329) to bring another fall. On the downside, break of 0.8098 will resume recent down trend to 200% projection of 0.9196 to 0.8757 from 0.8854 at 0.7976 next. Nevertheless, sustained break of 55 4H EMA will confirm short term bottoming, and turn bias back to the upside for stronger rebound.

In the bigger picture, the break of 0.8332 (2023 low) confirms resumption of long term down trend from 1.0342 (2017 high). Next target is 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9196 at 0.8075. Firm break there will target 100% projection at 0.7382. In any case, outlook will now stay bearish as long as 55 W EMA (now at 0.8821) holds.

Daily Pivots: (S1) 0.8163; (P) 0.8201; (R1) 0.8273; More…

No change in USD/CHF’s outlook as consolidations continue above 0.8098. Intraday bias stays neutral for the moment. While stronger recovery might be seen, upside should be limited by 55 4H EMA (now at 0.8357) to bring another fall. On the downside, break of 0.8098 will resume recent down trend to 200% projection of 0.9196 to 0.8757 from 0.8854 at 0.7976 next.

In the bigger picture, the break of 0.8332 (2023 low) confirms resumption of long term down trend from 1.0342 (2017 high). Next target is 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9196 at 0.8075. Firm break there will target 100% projection at 0.7382.

Daily Pivots: (S1) 0.8163; (P) 0.8201; (R1) 0.8273; More…

Intraday bias in USD/CHF remains neutral for consolidations above 0.8098 temporary low. While stronger rise might be seen, upside should be limited by 55 4H EMA (now at 0.8363) to bring another fall. On the downside, break of 0.8098 will resume recent down trend to 200% projection of 0.9196 to 0.8757 from 0.8854 at 0.7976 next.

In the bigger picture, the break of 0.8332 (2023 low) confirms resumption of long term down trend from 1.0342 (2017 high). Next target is 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9196 at 0.8075. Firm break there will target 100% projection at 0.7382.

Daily Pivots: (S1) 0.8089; (P) 0.8179; (R1) 0.8238; More…

USD/CHF is staying in consolidations above 0.8098 temporary low and intraday bias remains neutral. While stronger rise might be seen, upside should be limited by 55 4H EMA (now at 0.8391) to bring another fall. On the downside, break of 0.8098 will resume recent down trend to 200% projection of 0.9196 to 0.8757 from 0.8854 at 0.7976 next.

In the bigger picture, the break of 0.8332 (2023 low) confirms resumption of long term down trend from 1.0342 (2017 high). Next target is 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9196 at 0.8075. Firm break there will target 100% projection at 0.7382.

Daily Pivots: (S1) 0.8089; (P) 0.8179; (R1) 0.8238; More…

Intraday bias in USD/CHF remains neutral for consolidations above 0.8098 temporary low. While stronger rise might be seen, upside should be limited by 55 4H EMA (now at 0.8408) to bring another fall. On the downside, break of 0.8098 will resume recent down trend to 200% projection of 0.9196 to 0.8757 from 0.8854 at 0.7976 next.

In the bigger picture, the break of 0.8332 (2023 low) confirms resumption of long term down trend from 1.0342 (2017 high). Next target is 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9196 at 0.8075. Firm break there will target 100% projection at 0.7382.

Daily Pivots: (S1) 0.8079; (P) 0.8173; (R1) 0.8246; More…

A temporary low is formed at 0.8098 in USD/CHF with current recovery. Intraday bias is turned neutral first for consolidations. While stronger rise might be seen, upside should be limited by 55 4H EMA (now at 0.8449) to bring another fall. On the downside, break of 0.8098 will resume recent down trend to 200% projection of 0.9196 to 0.8757 from 0.8854 at 0.7976 next.

In the bigger picture, the break of 0.8332 (2023 low) confirms resumption of long term down trend from 1.0342 (2017 high). Next target is 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9196 at 0.8075. Firm break there will target 100% projection at 0.7382.

Daily Pivots: (S1) 0.8079; (P) 0.8173; (R1) 0.8246; More…

Intraday bias in USD/CHF stays on the downside at this point. Current down trend should target 200% projection of 0.9196 to 0.8757 from 0.8854 at 0.7976 next. On the upside, above 0.8256 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, the break of 0.8332 (2023 low) confirms resumption of long term down trend from 1.0342 (2017 high). Next target is 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9196 at 0.8075. Firm break there will target 100% projection at 0.7382.

USD/CHF’s strong break of 0.8332 support confirms larger down trend resumption. Initial bias stays on the downside this week for 200% projection of 0.9196 to 0.8757 from 0.8854 at 0.7976. On the upside, above 0.8256 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, the break of 0.8332 (2023 low) confirms resumption of long term down trend from 1.0342 (2017 high). Next target is 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9196 at 0.8075. Firm break there will target 100% projection at 0.7382.

In the long term picture, price action from 0.7065 (2011 low ) are seen as a corrective pattern to the multi-decade down trend from 1.8305 (2000 high). It’s uncertain if the fall from 1.0342 is the second leg of the pattern, or resumption of the down trend. But in either case, sustained trading below 61.8% retracement of 0.7065 to 1.0342 at 0.8317 will pave the way back to 0.7065.

Daily Pivots: (S1) 0.8120; (P) 0.8350; (R1) 0.8467; More…

No change in USD/CHF’s outlook and intraday bias stays on the downside. Next target is 200% projection of 0.9196 to 0.8757 from 0.8854 at 0.7976. On the upside, above 0.8256 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, the break of 0.8332 (2023 low) confirms resumption of long term down trend from 1.0342 (2017 high). Next target is 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9196 at 0.8075. Firm break there will target 100% projection at 0.7382.