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

USD/CHF is still extending the consolidation from 0.8332 and intraday bias remains neutral. 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) 0.9375; (P) 0.9396; (R1) 0.9410; More….

Intraday bias in USD/CHF is turned neutral with 4 hour MACD crossed below signal line. Some consolidations could be seen first. But outlook stays bullish as long as 0.9221 support holds. Break of 0.9416 will extend the rise from 0.8756 to 61.8% retracement of 0.9901 to 0.8756 at 0.9464. Break there will target 0.9901 resistance next.

In the bigger picture, fall from 1.0237 should have 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.

USD/CHF dropped to as low as 0.9958 last week but turned sideway since then. Initial bias is neutral this week first. near term outlook remains bearish with 1.0121 resistance intact. Fall 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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Daily Pivots: (S1) 0.8986; (P) 0.9017; (R1) 0.9066; More….

Intraday bias in USD/CHF remains neutral for consolidation above 0.8959. Outlook stays bearish with 0.9092 resistance intact. On the downside, break of 0.8959 will resume the fall from 0.9471 to retest 0.8756 low. However, break of 0.9092 will indicate short term bottoming and turn bias 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. 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) 0.9048; (P) 0.9084; (R1) 0.9131; More…

Intraday bias in USD/CHF stays neutral for the moment, and further decline is expected with 0.9118 minor resistance intact. On the downside, break of 0.9005 and sustained trading below 38.2% projection of 1.0146 to 0.9058 from 0.9439 at 0.9023 will extend the down trend from 1.0146 to 61.8% projection at 0.8767. However, firm break of 0.9118 will indicate short term bottoming, and turn bias to the upside for stronger rebound.

In the bigger picture, outlook will stay bearish as long as 0.9439 resistance holds, and fall from 1.1046 (2022 high) is still in progress. Prior rejection by 55 week EMA was a medium term bearish sign. Sustained of 0.9058 will resume such decline towards 0.8756 support (2021 low). But overall, this fall is still 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.

USD/CHF edged lower to 0.8998 last week but recovered since then. Upside is still limited by 0.9161 resistance and thus outlook stays bearish. Break of 0.8998 support will resume larger down trend to 100% projection of 1.0237 to 0.9181 from 0.9901 at 0.8845. However, sustained break of 0.9161 will confirm short term bottoming, and turn bias to the upside for stronger rebound, to 55 day EMA (now at 0.9232) and above.

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.

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) 0.9004; (P) 0.9024; (R1) 0.9060; More….

USD/CHF’s rally continues today and met 100% projection projection of 0.8550 to 0.8884 from 0.8728 at 0.9062 already. Intraday bias remains on the upside at this point. Sustained trading above 0.9062 will target 0.9243 key medium term resistance next. On the downside, below 0.8964 minor support will turn intraday bias neutral and bring consolidations first. But outlook will stay bullish as long as 0.8884 resistance turned support holds.

In the bigger picture, price actions from 0.8332 medium term bottom as tentatively seen as developing into a corrective pattern to the down trend from 1.0146 (2022 high). Further rise would be seen as long as 0.8728 support holds. But upside should be limited by 0.9243 resistance, at least on first attempt.

Daily Pivots: (S1) 0.9225; (P) 0.9257; (R1) 0.9295; More…

Intraday bias in USD/CHF remains neutral for the moment. Outlook stays bearish as long as 0.9407 resistance holds. Break of 0.9165 will resume whole fall from 1.0146. However, firm break of 0.9407 will turn bias back to the upside for stronger rebound.

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) 0.9159; (P) 0.9196; (R1) 0.9255; More…

Intraday bias in USD/CHF remains neutral and outlook is unchanged. On the upside, firm break of 0.9289 resistance will confirm short term bottoming at 0.9058, and bring stronger rise to 0.9407 resistance. On the downside, however, sustained break of 0.9058 will resume larger decline from 1.0146 instead.

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 be expected as long as 0.9407 resistance holds, in any case.

Daily Pivots: (S1) 0.9163; (P) 0.9183; (R1) 0.9202; More….

USD/CHF is staying in consolidation from 0.9148 and intraday bias remains neutral first. Further decline is still in favor with 0.9251 minor resistance intact. Corrective rise from 0.8927 should be complete with three waves up to 0.9367, on bearish divergence condition in daily MACD. Below 0.9148 will target 0.9017 support first, and then 0.8925 support 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.

USD/CHF edged lower to 0.9468 last week but recovered strongly after drawing support from 0.9471. As a temporary top was formed at 0.9650, initial bias is neutral this week first. On the upside, break of 0.9650, and sustained trading above 55 day EMA (now at 0.9647) will raise the chance that corrective pattern from 1.0063 has completed. Further rally should then be seen to 0.9884 resistance next. However, decisive break of 0.9471 support will carry larger bearish implication.

In the bigger picture, medium term up trend from 0.8756 (2021 low) is still in progress. On resumption, next target is 1.0342 (2016 high). Sustained break there will resume long term up trend from 0.7065 (2011 low). This will remain the favored case as long as 0.9471 resistance turned support holds. However, firm break of 0.9471 will raise the chance that such up trend is over.

In the long term picture, current development argues that the correction from 1.0342 (2016 high) has completed at 0.8756 (2020 low) already. Rise from 0.7065 (2011 low) might be ready to resume. Firm break of 1.0342 will confirm and target 38.2% retracement of 1.8305 (2000 high) to 0.7065 at 1.1359. However, sustained break of 0.9471 resistance turned support will argue that long term sideway trading from 1.0342 is still extending.

Daily Pivots: (S1) 0.9603; (P) 0.9639; (R1) 0.9660; More…

USD/CHF breached 0.9594 support but quickly recovered. Intraday bias stays neutral first. Outlook is a bit mixed as the pair is bounded inside medium term falling channel. The pair was also limited below 38.2% retracement of 1.0342 to 0.9437 at 0.9783. Firm break of 0.9594 will dampen our bullish view and turn bias back to the downside for 0.9437. This could also extend the fall through 1.0342 through 0.9437/43 key support level. On the upside, above 0.9772 will revive the bullish case of reversal and turn bias back to the upside.

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.

USD/CHF surged to as high as 0.9954 last week before forming a temporary top there and retreated .Initial bias is neutral this week for some consolidations. Downside should be contained by 38.2% retracement of 0.9541 to 0.9954 at 0.9796 to bring another rally. On the upside, break of 0.9954 will target 1.0067 resistance next.

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.

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) 0.8843; (P) 0.8862; (R1) 0.8874; More….

Focus is now on 0.8851 temporary low in USD/CHF. Firm break there will resume larger down trend. Next near term target is 61.8% projection of 0.9901 to 0.8998 from 0.9304 at 0.8746. In case of another recovery, upside should be limited by 0.8982 support turned resistance to bring fall resumption.

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.

Daily Pivots: (S1) 0.9918; (P) 0.9972; (R1) 1.0024; More…

Intraday bias in USD/CHF retreats sharply with a temporary top formed at 1.0027. Some consolidations could be seen but further rise is expected as long as 0.9843 support holds. On the upside, break of 1.0027 will extend the rally from 0.9659 to 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, 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) 1.0140; (P) 1.0151; (R1) 1.0167; More…

USD/CHF is losing some upside momentum as seen in 4 hour MACD. But with 1.0130 minor support intact, intraday bias stays on the upside. Current rally should target 100% projection of 0.9716 to 1.0124 from 0.9879 at 1.0287 next. On the downside, below 1.0130 minor support will turn intraday bias neutral and bring consolidations, before staging another rise.

In the bigger picture, medium term up trend from 0.9186 is extending. Current rise should target 1.0342 resistance next. For now, we’d be cautious on strong resistance from there to limit upside, until we see medium term upside acceleration. On the downside, break of 0.9879 support is needed to indicate reversal. Otherwise, outlook will stay bullish in case of deep pull back.

Daily Pivots: (S1) 0.8986; (P) 0.9039; (R1) 0.9077; More….

Intraday bias in USD/CHF stays neutral for the moment. On the upside, break of 0.9086 resistance will indicate that pull back from 0.9243 has completed, and turn bias to the upside for retesting this high. However, sustained break of 38.2% retracement of 0.8551 to 0.9243 at 0.8979 will argue that deeper fall is under way to 61.8% retracement at 0.8815.

In the bigger picture, as long as 55 D EMA (now at 0.8976) holds rise from 0.8551 is viewed as reversing whole down trend from 1.0146 (2022 high). On resumption, further rise should be seen to 61.8% retracement of 1.0146 to 0.8551 at 0.9537 and above. However, sustained break of 55 D EMA will revive medium term bearishness, for retesting 0.8551 low at a later stage.

Daily Pivots: (S1) 0.8908; (P) 0.8930; (R1) 0.8959; More….

Intraday bias in USD/CHF is back on the upside with break of 0.8915 resistance. Rise from 0.8551 is resuming for 0.9146 cluster resistance. On the downside, though, break of 0.8893 support will indicate short term topping, and turn bias to the downside for deeper pullback.

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) 1.0053; (P) 1.0090; (R1) 1.0150; More….

USD/CHF retreats notably ahead of 1.0128 resistance. But with 1.0056 minor support intact, further rise is expected. On the upside, decisive break of 1.0128 will confirm resumption of rally from 0.9187. Next near term target will be 61.8% projection of 0.9716 to 1.0098 from 0.9926 at 1.0162 and then 100% projection at 1.0308. On the downside, break of 1.0056 minor support will turn intraday bias neutral first.

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) 1.0087; (P) 1.0124; (R1) 1.0156; More…..

USD/CHF lost momentum again after hitting 1.0169 and retreated since then. Intraday bias is turned neutral again. Further rise cannot be ruled out with 1.0008 support intact. However, based on neutral medium term outlook, we’d be cautious on topping at around 1.0342. This is supported by the corrective structure of the rise from 0.9860 so far. On the downside, break of 1.0008, however, will indicate completion of the rebound from 0.9860. And intraday bias will be turned back to the downside for 0.9860.

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.