Daily Pivots: (S1) 0.9144; (P) 0.9183; (R1) 0.9206; More….

Intraday bias in USD/CHF remains neutral as sideway trading continues. On the upside, break of 0.9241 resistance should resume the rise from 0.8925 through 0.9273. On the downside, break of 0.9098 will target 0.9017 support first. Further break there will likely resume the decline from 0.9471 through 0.8925 low.

In the bigger picture, USD/CHF is still struggling around 55 week EMA (now at 0.9176) and outlook is mixed for now. Confirmed rejection by the 55 week EMA will retain medium term bearishness. That is, larger fall from 1.0342 would resume through 0.8756 low at a later stage. However, sustained trading above 55 week EMA will tilt favor to the case of bullish reversal. Focus would then be turned to 0.9471 resistance for confirmation.

Daily Pivots: (S1) 0.9227; (P) 0.9267; (R1) 0.9314; More….

Intraday bias in USD/CHF remains neutral first. Below 0.9212 will extend the correction from 0.9374 to 38.2% retracement of 0.8869 to 0.9374 at 0.9181. But outlook will stay bullish as long as 0.9044 resistance turned support holds. On the upside, above 0.9295 minor resistance will turn bias to the upside for retesting 0.9374 high.

In the bigger picture, current development argues that fall from 1.0237 has 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) 0.8855; (P) 0.8891; (R1) 0.8949; More….

USD/CHF is staying in consolidation above 0.8825 and intraday bias remains neutral for the moment. Outlook will stay bearish as long as 0.8992 resistance holds. On the downside, break of 0.8825 will resume the fall from 0.9223. Next target is 61.8% retracement of 0.8332 to 0.9223 at 0.8672.

In the bigger picture, price actions from 0.8332 medium term bottom are seen as developing into a corrective pattern to the down trend from 1.0146 (2022 high). Rejection by 0.9243 resistance affirms this case, and maintains medium term bearishness. While more range trading could be seen between 0.8332/0.9243 first, downside break out is mildly in favor at a later stage.

Daily Pivots: (S1) 0.8562; (P) 0.8603; (R1) 0.8655; More….

USD/CHF recovered after dipping to 0.8550 and intraday bias is turned neutral again. On the downside, below 0.8550 will resume the fall from 0.8727 for 0.8487 support. Break there will argue that rebound from 0.8332 has completed, and bring retest of this low. On the upside, firm break of 0.8727 will resume the rebound to 61.8% retracement of 0.9243 to 0.8332 at 0.8995 instead.

In the bigger picture, while rebound from 0.8332 could be strong, there is no clear sign of medium term bottoming yet. This rebound is tentatively seen as a corrective move for now. Also, outlook will stay bearish as long as 0.9243 resistance holds. Larger down trend from 1.0146 (2022 high) should resume through 0.8332 low at a later stage.

Daily Pivots: (S1) 0.8891; (P) 0.8908; (R1) 0.8930; More…

Intraday bias in USD/CHF stays mildly on the upside for the moment. Rebound from 0.8819 short term bottom could extend to 55 D EMA (now at 0.8967) and possibly above. But still, break of 0.9049 resistance is needed to confirm that fall from 0.9223 has completed. Otherwise, risk will stay on the downside for another fall at a later stage. On the downside, below 0.8870 will bring retest of 0.8819 low.

In the bigger picture, with 0.9243 resistance intact, medium term outlook in USD/CHF is neutral at best. For now, more sideway trading is likely between 0.8332/9243. However, firm break of 0.9243 will indicate larger bullish trend reversal.

Daily Pivots: (S1) 0.9965; (P) 1.0026; (R1) 1.0062; More…

USD/CHF’s fall from 1.0128 extends to as low as 0.9957 so far but stays above 0.9952 support. Intraday bias remains neutral first. As long as 0.9952 support holds, further rally remains in favor. On the upside, above 1.0035 minor resistance will turn bias back to the upside for 1.0128. Decisive break there will resume the whole rise from 0.9186 and target 1.0342 key resistance next. However, firm break of 0.9952 will indicate short term topping and bring deeper fall back to 0.9848 support first.

In the bigger picture, the pullback from 1.0067 has completed at 0.9541 already. And rise from 0.9186 is likely resuming. Firm break of 1.0067 will pave the way to retest 1.0342 key resistance. We’d be cautious on strong resistance from there to limit upside to bring another medium term fall to extend long term range trading. However, break of 0.9848 near term support will dampen this view and bring deeper decline back to 0.9541 support and possibly below.

Daily Pivots: (S1) 0.8731; (P) 0.8746; (R1) 0.8762; More….

Intraday bias in USD/CHF remains neutral as range trading continues. Another fall is in favor as long as 0.8769 minor resistance holds. Below 0.8665 will resume the decline from 0.9243 to 161.8% projection of 0.9243 to 0.8886 from 0.9111 at 0.8533, which is close to 0.8551 low. However, break of 0.8769 minor resistance should indicate short term bottoming, and turn bias back to the upside for stronger recovery to 0.8886 support turned resistance.

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.

USD/CHF’s decline extended to 0.9254 last week. Downside momentum is diminishing as seen in 4 hour MACD. But as long as 0.9392 resistance holds, deeper fall is expected. Current fall from 1.0037 would target next fibonacci projection level at 0.9115. On the upside, break of 0.9392 minor resistance, however, will indicate short term bottoming and bring stronger rebound.

In the bigger picture, the strong break of 0.9420 support suggests that fall from 1.0342 is developing into a medium term down trend. Deeper fall should be seen to 100% projection of 1.0342 to 0.9420 from 1.0037 at 0.9115. Break will target 161.8% projection at 0.8545. In any case, break of 0.9640 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even in case of strong rebound.

In the long term picture, the strong break of 0.9420 support and downside acceleration turns the long term outlook rather bearish. Corrective rebound from 0.7065 (2011 low) could have already completed at 1.0342. 0.8698 support will be a key level to watch. Sustained break there could bring retest of 0.7065.

Daily Pivots: (S1) 0.9628; (P) 0.9674; (R1) 0.9702; More…

Intraday bias in USD/CHF remains neutral as range trading continues. On the downside, break of 0.9638 will extend the corrective pattern from 0.9901 with another fall, to 0.9588 support and below. 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 0.9784 resistance will target a test on 0.9901 high.

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) 0.9520; (P) 0.9544; (R1) 0.9588; More…

USD/CHF lost momentum again after hitting 0.9568. But for the momentum, further rise is still expected to 0.9626 fibonacci level. We’d be cautious on strong resistance from 0.9626 to limit upside. Nonetheless, sustained break of 0.9626 will carry larger bullish implications. On the downside, break of 0.9423 will indicate completion of the rebound from 0.9186. And intraday bias would then be turned back to the downside for 0.9356 support and below.

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.

USD/CHF dipped to 0.9541 last week but recovered since then. Initial bias is neutral this week first. Corrective pattern from 0.9901 might still extend lower. But in that case, downside should be contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound. On the upside, break of 0.9647 minor resistance will turn bias back to the upside for 0.9874 first.

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.

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) 0.9765; (P) 0.9792; (R1) 0.9847; More…

USD/CHF’s rise from 0.9541 is still in progress. Intraday bias remains on the upside for 0.9866 key resistance level, 61.8% retracement of 1.0067 to 0.9541 at 0.9866. Decisive break there will bring retest of 1.0067 high. On the downside, below 0.9736 minor support will turn intraday bias neutral first.

In the bigger picture, focus is now back on 0.9866 support turned resistance. Decisive break there will suggests that pull back from 1.0067 has completed at 0.9541. And larger rise from 0.9186 low is ready to resume. Decisive break of 1.0067 will pave the way to 1.0342 key resistance next. Meanwhile, break of 0.9541 will extend the decline but we don’t expect a break of 0.9186 low even in that case.

Daily Pivots: (S1) 0.9885; (P) 0.9911; (R1) 0.9926; More…

Intraday bias in USD/CHF is turned neutral with today’s recovery. Focus is back on 0.9977 minor resistance. Break there will argue that corrective pull back from 1.0056 has completed already. Intraday bias will then be turned back to the upside for retesting 1.0056 high first. In case of another fall, we’d expect strong support from trend line (now at 0.9842) to contain downside and bring rebound. However, sustained break of the trend line will argue that it’s a larger scale correction and will target 0.9724 fibonacci level.

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) 0.9890; (P) 0.9919; (R1) 0.9941; More…

USD/CHF rebounds further today and focus is now back on 0.9983 resistance. Sustained break of 0.9975/83 should confirm completion of whole fall from 1.0237. Further rise should then be seen to retest 1.0237. On the downside, break of 0.9843 will turn bias back to the downside for 0.9798 support.

In the bigger picture, the structure of the fall from 1.0237 suggests that it’s a corrective move. Sustained 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) 0.9061; (P) 0.9078; (R1) 0.9100; More….

No change in USD/CHF’s outlook as intraday bias stays neutral. Further decline is in favor as long as 55 4H EMA (now at 0.9099) holds. On the downside, break of 0.9005 and sustained trading below 55 D EMA (now at 0.9000) will bring deeper fall to 38.2% retracement of 0.8332 to 0.9223 at 0.8883. However, firm break of 55 4H EMA will suggest that the pull back has completed, and bring stronger rebound to retest 0.9223 high.

In the bigger picture, price actions from 0.8332 medium term bottom are tentatively seen as developing into a corrective pattern to the down trend from 1.0146 (2022 high). Rejection by 0.9243 resistance, followed by sustained break of 38.2% retracement of 0.8332 to 0.9223 at 0.8883 will strengthen this case, and maintain medium term bearishness. However, decisive break of 0.9243 will argue that the trend has already reversed and turn medium term outlook bullish for 1.0146.

Daily Pivots: (S1) 0.9655; (P) 0.9678; (R1) 0.9714; More…..

USD/CHF rebounds strongly today but it’s held below 0.9766 resistance. Intraday bias stays neutral first. On the upside, break firm break of 0.9766 will argue that the fall from 1.0067 might be completed. And intraday bias will be turned back to the upside for 0.9866 support turned resistance for confirmation. On the downside, however, break of 0.9640 will resume the decline from 1.0067 to 200% projection of 1.0067 to 0.9866 from 0.9981 at 0.8579 next.

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 0.9866 support turned resistance will suggests that fall from 1.0067 has completed and rise from 0.9186 is resuming.

Daily Pivots: (S1) 0.9477; (P) 0.9515; (R1) 0.9573; More….

Intraday bias in USD/CHF remains on the upside for the moment. Current rally should target 0.9591 medium term projection level next. On the downside, below 0.9453 minor support will turn intraday bias neutral again and bring consolidations. But overall, further rally will remain in favor as long as 0.9372 resistance turned support holds.

In the bigger picture, down trend from 1.0342 (2016 high) could 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 61.8% projection of 0.8756 to 0.9471 from 0.9149 at 0.9591. Sustained break there will pave the way to 100% projection at 0.9864. This will now remain the favored case as long as 0.9149 support holds.

Daily Pivots: (S1) 0.9130; (P) 0.9163; (R1) 0.9215; More….

USD/CHF’s rally from 0.8551 resumed by breaking through 0.9224 resistance today. Intraday bias is back on the upside. Current rally should target 0.9439 resistance next. On the downside, break of 0.9089 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

In the bigger picture, current development indicates that rise from 0.8551 is reversing whole down trend from 1.0146. Further rally would then be seen to 61.8% retracement at 0.9537 and above. For now, this will be the favored case as long as 55 D EMA (now at 0.8942) holds, even in case of deep pullback.

USD/CHF’s fall from 1.0128 resumed last week by taking out 0.9908 support. Initial bias stays on the downside this week for 0.9848 support first. Break there will confirm near term reversal and target 61.8% retracement of 0.9541 to 1.0128 at 0.9765. On the upside, break of 1.0008 resistance is needed to indicate short term bottoming. Otherwise, near term outlook will now remain bearish in case of recovery.

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 0.9514 will pave the way back to 0.9186 low.

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) 0.9909; (P) 0.9944; (R1) 1.0012; More….

USD/CHF rally continues today and reaches as high as 0.9995 so far. 61.8% retracement of 1.0342 to 0.9420 at 0.9990 is already met. Intraday bias remains on the upside and sustained break of 0.9990 will pave the way to retest 1.0342 high. On the downside, below 0.9939 minor support will turn intraday bias neutral first. 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 0.9736 support is now needed to indicate completion of the rise from 0.9420. Otherwise, further rally will remain in favor in medium term.