Daily Pivots: (S1) 0.9664; (P) 0.9689; (R1) 0.9735; More…

USD/CHF remains bounded in range below 0.9726 and intraday bias remains neutral for the moment. Another rise is expected as long as 0.9594 support holds. Prior break of 0.9699 resistance suggests near term reversal after defending 0.9443 key support. Above 0.9726 will target 38.2% retracement of 1.0342 to 0.9437 at 0.9783 first. Break will target channel resistance (now at 0.9899). However, firm break of 0.9594 will dampen this bullish view and turn bias back to the downside for 0.9437.

In the bigger picture, current development argues that USD/CHF has successfully defended 0.9443 key support level. And long term range trading in 0.9443/1.0342 is extending with another rise. At this point, there is no sign of an up trend yet. Hence, while further rise is expected in USD/CHF, we’ll start to be cautious on loss of momentum above 61.8% retracement of 1.0342 to 0.9437 at 0.9996.

Daily Pivots: (S1) 0.9514; (P) 0.9534; (R1) 0.9568; More…

Intraday bias in USD/CHF stays neutral for the moment as consolidation from 0.9355 is in progress. Further decline is expected as long as 0.9680 resistance holds. Break of 0.9355 will resume the fall from 1.0146 to 0.9287 fibonacci level. Nevertheless, firm break of 0.9680 will bring stronger rebound to 55 day EMA (now at 0.9767).

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 might be a medium term down trend itself. Break of 61.8% retracement of 0.8756 to 1.0146 at 0.9287 will pave the way to 0.8756. In any case, risk will stay on the downside as long as 55 day EMA (now at 0.9767) holds.

Daily Pivots: (S1) 1.0129; (P) 1.0163; (R1) 1.0185; More…..

Intraday bias in USD/CHF remains neutral for the moment as consolidation from 1.0342 continues. In case of another fall, we’d expect strong support from 1.0019 to contain downside and bring rally resumption. Firm break of 1.0342 will confirm up trend resumption. However, sustained break of 1.0019 will indicate near term reversal and could bring deeper fall bring to 0.9443/9548 support zone.

In the bigger picture, the corrective fall from 1.0327 should have completed at 0.9443 already. Rise from 0.9443 could be resuming the long term rally from 2011 low at 0.7065. But decisive break of 1.0327 is needed to confirm. In that case, next medium term upside target will be 38.2% retracement of 1.8305 to 0.7065 at 1.1359. Rejection from 1.0327 will extend the sideway pattern with another fall back to 0.9443/9548 support zone.

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Daily Pivots: (S1) 0.8943; (P) 0.8971; (R1) 0.9010; More….

USD/CHF is staying in consolidation from 0.8925 and intraday bias remains neutral first. Further decline is expected as long as 0.9052 resistance holds. On the downside, break of 0.8925 will resume the fall from 0.9471 to retest 0.8756 low. However, firm break of 0.9052 resistance will now confirm short term bottoming. Intraday bias will be turned back to the upside for stronger rebound.

In the bigger picture, prior 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. Medium term bearish is also affirmed as the pair is now far below falling 55 week EMA. Firm break of 0.8756 low will target 61.8% projection of 1.0237 to 0.8756 from 0.9471 at 0.8556 next.

Daily Pivots: (S1) 0.8966; (P) 0.9028; (R1) 0.9062; More….

Focus is now immediately on 0.8982 support in USD/CHF. Decisive break there will confirm down trend resumption and target 61.8% projection of 0.9901 to 0.8998 from 0.9304 at 0.8746. On the upside, break of 0.9093 resistance, however, will turn bias to the upside and extend the consolidation from 0.8982 with another rising leg.

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) 0.9765; (P) 0.9791; (R1) 0.9816; More…

Intraday bias in USD/CHF remains neutral as range trading continues below 0.9848 temporary top. Further rise is mildly in favor as long as 0.9741 support holds, with focus on 38.2% retracement of 1.0237 to 0.9613 at 0.9851. On the upside, sustained break of 0.9851 will add to the case of bullish near term reversal and target 61.8% retracement at 0.9999 next. On the downside, break of 0.9741 will suggest rejection by 0.9851 and retain near term bearishness. Intraday bias will be turned back to the downside for retesting 0.9613 low.

In the bigger picture, medium term outlook remains neutral as USD/CHF is staying sideway trading started from 1.0342 (2016 high). Fall from 1.0237 is a leg inside the pattern and could target 0.9186 (2018 low). In case of another rise, break of 1.0237 is needed to indicate up trend resumption. Otherwise, more sideway trading would be seen with risk of another fall.

Daily Pivots: (S1) 0.9679; (P) 0.9718; (R1) 0.9740; More….

Outlook in USD/CHF remains unchanged with focus staying on 0.9772 key resistance. Decisive break there will suggest that whole down trend form 1.0342 has completed. In that case, near term outlook will be turned bullish for 0.9860/1.0099 resistance zone. Nonetheless, with 0.9772 resistance intact, outlook remains bearish. Below 0.9587 minor support will turn bias back to the downside for retesting 0.9420 low.

In the bigger picture, focus remains on whether 0.9443 key support (2016 low) could be taken out firmly as down trend from 1.0342 extends. There are various interpretation of the price actions. But in any case, medium term outlook will stay bearish as long as 0.9772 resistance holds. Current down trend could extend to 38.2% retracement of 0.7065 (2011 low) to 1.0342 (2016 high) at 0.9090. However, break of 0.9772 will indicate that USD/CHF has successfully defended 0.9443 again and turn outlook bullish for 1.0099 resistance.

Daily Pivots: (S1) 0.9404; (P) 0.9456; (R1) 0.9490; More….

USD/CHF’s recovery and break of 0.9493 minor resistance indicates temporary bottoming at 0.9420. Intraday bias is turned neutral for consolidation. But after all, near term outlook remains bearish as long as 0.9679 resistance holds. Deeper fall is still expected. Sustained break of 0.9420 will target 61.8% projection of 1.0099 to 0.9437 from 0.9772 at 0.9363 first. Break will target 100% projection at 0.9110 next.

In the bigger picture, current development suggests that 0.9443 key support (2016 low) could be taken out firmly as down trend form 1.0342 extends. There are various interpretation of the price actions. But in any case, medium term outlook will stay bearish as long as 0.9772 resistance holds. Current down trend could extend to 38.2% retracement of 0.7065 (2011 low) to 1.0342 (2016 high) at 0.9090. However, break of 0.9772 will indicate that USD/CHF has successfully defended 0.9443 again and turn outlook bullish for 1.0099 resistance.

Daily Pivots: (S1) 0.9939; (P) 0.9965; (R1) 1.0000; More…

USD/CHF recovers again but it’s still staying below 1.0006 minor resistance. Intraday bias remains neutral first. On the upside, break of 1.0006 will argue that the pull back from 1.0128 has completed. Intraday bias will be turned back to the upside for retesting 1.1028. On the downside, break of 38.2% retracement of 0.9541 to 1.0128 at 0.9904 will resume the fall from 1.0128 to 0.9848 key support level. Break there will indicate near term reversal and target 61.8% at 0.9765.

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.

Daily Pivots: (S1) 0.8973; (P) 0.8998; (R1) 0.9020; More….

Intraday bias in USD/CHF stays neutral as consolidations continue above 0.8952 temporary low. 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.

Daily Pivots: (S1) 0.9906; (P) 0.9928; (R1) 0.9947; More…..

USD/CHF is staying in consolidation above 0.9879 temporary low. Intraday bias stays neutral for more consolidations. As long as 1.0010 minor resistance holds, further decline is mildly in favor. On the downside, below 0.9879 will resume the fall from 1.0124 to 0.9716 key support. Nevertheless, break of 1.0010 will turn bias back to the upside for 1.0124/28 resistance zone.

In the bigger picture, focus is back on medium term trend line (now at 0.9846). Decisive break there 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. Nevertheless, there is still a chance that price action from 1.0128 are forming a consolidative pattern with fall from 1.0124 as third leg. If this is the case, stronger support should be seen between 0.9716 and the trend line to contain downside.

Daily Pivots: (S1) 0.9690; (P) 0.9714; (R1) 0.9733; More…

USD/CHF drops notably today but stays above 0.9646 temporary low. Intraday bias remains neutral first. With 0.9770 resistance intact, outlook remains bearish and further decline is expected. On the downside, break of 0.9646 will extend whole fall from 1.0237 and target 100% projection of 1.0237 to 0.9659 from 1.0023 at 0.9445. Nevertheless, on the upside, break of 0.9770 will indicate short term bottoming and turn bias to the upside for 55 day EMA (now at 0.9821) instead.

In the bigger picture, medium term outlook remains neutral as USD/CHF is staying sideway trading started from 1.0342 (2016 high). Fall from 1.0237 is a leg inside the pattern and could target 0.9186 (2018 low). In case of another rise, break of 1.0237 is needed to indicate up trend resumption. Otherwise, more sideway trading would be seen with risk of another fall.

Range trading continued in USD/CHF last week and outlook is unchanged. Initial bias stays neutral this week first. Choppy rise from 0.8925 would still be in favor to extend higher as long as 0.9090 support holds. Break of 0.9341 will target 0.9372 resistance and then 0.9471. On the downside, however, break of 0.9090 will bring deeper fall back to 0.8925 support.

In the bigger picture, medium term outlook will be neutral at best as long as 0.9471 resistance holds. Larger down trend could still extend through 0.8756 (2021 low). However, firm break of 0.9471 will argue that the trend has already reversed and rebound the rally from 0.8756 with another impulsive move.

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) 0.8955; (P) 0.8969; (R1) 0.8984; More….

Intraday bias in USD/CHF stays on the upside for the moment. 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 0.8858).

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) 0.9174; (P) 0.9258; (R1) 0.9333; More…

USD/CHF is staying in consolidation from 0.9181 and intraday bias remains neutral first. Upside of recovery should be limited by 38.2% retracement of 0.9484 to 0.9181 at 0.9436 down trend resumption. On the downside, break of 0.9181 will target 200% projection of 1.0023 to 0.9613 from 0.9848 at 0.9028 next.

In the bigger picture, current development suggests that decline from 1.0237 is the third leg of the pattern from 1.0342 (2016 high). Focus will be on 100% projection 1.0342 to 0.9186 from 1.0237 at 0.9081. Sustained break there will argue that USD/CHF is in a long term down trend, which would target 138.2% projection at 0.8639 next. For now, outlook will remain bearish as long as 0.9613 support turned resistance holds, in case of rebound.

Daily Pivots: (S1) 0.9616; (P) 0.9639; (R1) 0.9676; More……

Intraday bias in USD/CHF remains neutral for the moment. Consolidation from 0.9551 is still in progress. In case of another rise, upside is expected to be limited by 0.9770 resistance and bring fall resumption. Below 0.9595 minor support will turn intraday bias back to the downside. In such case, USD/CHF should fall through 0.9551 support resume the whole fall from 1.0342 and target 0.9443 key support level next. We’d expect strong support from there to bring rebound. Meanwhile, firm break of 0.9770 will indicate near term reversal, on bullish convergence condition in 4 hour MACD.

In the bigger picture, USD/CHF is still bounded in medium term range of 0.9443/1.0342 for the moment. Consolidative trading would likely continue and medium term outlook remains neutral. Break of 1.0342 key resistance is needed to confirm underlying bullish momentum in the pair. Meanwhile, downside attempts should be contained by 0.9443 key support level. However, sustained break of 0.9443 will carry larger bearish implication and target 0.9 handle.

Daily Pivots: (S1) 0.8498; (P) 0.8518; (R1) 0.8528; More….

No change in USD/CHF and intraday bias stays neutral. Consolidation from 0.8332 is extending. Stronger recovery cannot be ruled out. But outlook will stay bearish as long as 0.8665 support turned resistance holds. On the downside, break of 0.8332 will resume larger fall from 0.9243 to 0.8257 projection level.

In the bigger picture, the down trend from 1.0146 (2022 high) is in progress. 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) 0.9958; (P) 0.9982; (R1) 1.0012; More…

USD/CHF is still bounded in range of 0.9908/1.0006 and intraday bias remains neutral. On the downside, break of 38.2% retracement of 0.9541 to 1.0128 at 0.9904 will resume the fall from 1.0128 to 0.9848 key support level. Break there will indicate near term reversal and target 61.8% at 0.9765. On the upside, break of 1.0006 will argue that the pull back from 1.0128 has completed. Intraday bias will be turned back to the upside for retesting 1.1028.

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.

Daily Pivots: (S1) 0.8895; (P) 0.8911; (R1) 0.8925; More….

No change in USD/CHF’s outlook as consolidation from 0.8943 is extending. While deeper pull back cannot be ruled out, downside should be contained above 0.8743 support to bring another rally. Break 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) 0.9963; (P) 0.9995; (R1) 1.0021; More…..

USD/CHF recovers today but stays in tight range above 0.9958. With 1.0121 minor resistance intact, deeper fall is still in favor. Decline from 1.0342 is seen as the third leg of the pattern from 1.0327. Below 0.9958 will target 61.8% retracement of 0.9443 to 1.0342 at 0.9786 and below. Nonetheless, break of 1.0121 will indicate near term reversal and turn focus back to 1.0342.

In the bigger picture, rejection from 1.0327 resistance suggests that consolidation pattern from there is still in progress. Fall from 1.0342 is seen as the third leg and retest of 0.9443/9548 support zone could be seen. But we’d expect strong support from there to contain downside. At this point, we’re still expecting the larger rally to resume later to 38.2% retracement of 1.8305 to 0.7065 at 1.1359.

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