Daily Pivots: (S1) 0.9044; (P) 0.9060; (R1) 0.9086; More….

Intraday bias in USD/CHF remains on the upside for the moment. Current rise from 0.8551 is in progress for 0.9146/60 cluster resistance. On the downside, break of 0.9019 minor support will turn intraday bias neutral first. But further rally will remain in favor as long as 0.8874 resistance turned support holds, in case of retreat.

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. However, decisive break of 0.9146/60 will indicate trend reversal, and target 61.8% retracement at 0.9537.

Daily Pivots: (S1) 0.9108; (P) 0.9140; (R1) 0.9192; More…

Focus is now on 0.9165 resistance as the rebound from 0.9030 extends. Firm break there will indicate that corrective pattern from 0.8998 has started the third leg. Intraday bias will be turned back to the upside for 0.9304 first. Break will target 38.2% retracement of 0.9901 to 0.8998 at 0.9343. On the downside, break of 0.9030 will bring retest of 0.8998 low.

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) 0.9050; (P) 0.9065; (R1) 0.9087; More…

USD/CHF is staying in consolidation above 0.9030 temporary low. Intraday bias remains neutral at this point. Further fall is expected as long as 0.9165 resistance holds. Below 0.9030 will target 0.8998 low first. Break will resume larger down trend for 61.8% projection of 0.9901 to 0.8998 from 0.9304 at 0.8746. However, break of 0.9165 resistance will delay the bearish case. Intraday bias will be turned back to the upside to extend the consolidation from 0.8998 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) 0.9321; (P) 0.9348; (R1) 0.9368; More….

USD/CHF retreat ahead of 0.9380 resistance and intraday bias remains neutral. On the upside, firm break of 0.9380 should confirm that fall from 0.9459 has completed with three wave down to 0.9193. Such development will revive near term bullishness and turn bias back to the upside for 0.9459 and then 0.9471 resistance. On the downside, below 0.9280 minor support will turn bias to the downside for 0.9193 support next.

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 whole down trend form 1.0342 (2016 high), has completed with waves down to 0.8756. A medium term up trend should be set up to target 1.0237/0342 resistance zone.

Daily Pivots: (S1) 0.8549; (P) 0.8599; (R1) 0.8628; More….

USD/CHF rebounds notably today but stays in range below 0.8727. Intraday bias remains neutral first. 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. On the downside, below 0.8550 will resume the fall from 0.8727 for 0.8487 support.

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) 0.8966; (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) 0.9965; (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) 0.9431; (P) 0.9470; (R1) 0.9505; More…

USD/CHF’s rebound from 0.9186 resumed by breaching 0.9568 and intraday bias is back on the upside. At this point, we’d still expect strong resistance from 0.9626 key fibonacci level to limit upside. On the downside, break of 0.9432 support will indicate near term reversal and completion of rebound from 0.9186. In this case, intraday bias will be turned back to the downside for retesting 0.9186 low. However, sustained break of 0.9626 will be another evidence of larger reversal. In this case, further rise would be seen to next fibonacci level at 0.9900.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. Main focus is on 38.2% retracement of 1.0342 (2016 high) to 0.9186 (2018 low) at 0.9626. Sustained break there will add 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.

Daily Pivots: (S1) 0.9432; (P) 0.9448; (R1) 0.9470; More…

Intraday bias in USD/CHF stays neutral first. On the downside, break of 0.9420 minor support will bring retest of 0.9376 low. Break will resume the whole decline form 0.9901 and target 100% projection of 0.9901 to 0.9502 from 0.9736 at 0.9337. On the upside, , firm break of 0.9554 resistance will resume the rebound from 0.9376 instead. In this case, further rally would be seen to 55 day EMA (now at 0.9570).

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 from 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) 0.8869; (P) 0.8894; (R1) 0.8912; More….

USD/CHF’s break of 0.8822 support suggests down trend resumption. Intraday bias is back on the downside. Next target is 61.8% projection of 0.9901 to 0.8998 from 0.9304 at 0.8746. Break will pave the way to long term projection level at 0.8639. On the upside, break of 0.8918 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain 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 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) 1.0078; (P) 1.0155; (R1) 1.0255; More…..

USD/CHF is staying in range below 1.0342 and intraday bias remains neutral. Consolidation from there could extend. But still, as long as 1.0019 support holds, near term outlook remains bullish for further rally. Sustained break of 1.0327 key resistance will confirm up trend resumption and target 61.8% projection of 0.9548 to 1.0190 from 1.0019 at 1.0416 and then 100% projection at 1.0661. However, break of 1.0019 should confirm rejection from 1.0327 and turn near term outlook bearish.

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 0.9443/9540 support zone.

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USD/CHF edged lower to 0.8818 and recovered again, but stayed below 0.8993 resistance. Initial bias stays neutral this week first. While down trend from 1.0146 could still extend lower, strong support should be seen from 61.8% projection of 1.0146 to 0.9058 from 0.9439 at 0.8767, which is close to 0.8756 long term support, to bring rebound, at least on first attempt. On the upside, break of 0.8993 resistance will indicate short term bottoming, on bullish convergence condition in 4H MACD, and turn bias back to the upside for stronger rebound.

In the bigger picture, fall from 1.1046 (2022 high) is seen 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. Sustained break of 0.9058 support turned resistance will be the first sign of medium term bottoming. However, decisive break of 0.8756 will carry larger bearish implications.

In the long term picture, long term sideway pattern from 1.0342 (2016 high) is expected to continue between 0.8756/1.0342. However, sustained break of 0.8756 will open up deeper fall back towards 0.7065 (2011 low).

Daily Pivots: (S1) 0.9767; (P) 0.9834; (R1) 0.9924; More…

Intraday bias in USD/CHF remains neutral for consolidation below 0.9901 temporary top. Deeper retreat could be seen but downside should be contained by 0.9649 support to bring another rally. As noted before, fall form 1.0237 should have completed at 0.9181. Above 0.9901 will target 1.0023 resistance and then 1.0237.

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). Further rise could be seen to retest 1.0237 high. After all, medium term range trading will likely continue between 0.9181/1.0237 for some time.

Daily Pivots: (S1) 0.9660; (P) 0.9678; (R1) 0.9690; More…

A temporary low is formed at 0.9646 as USD/CHF recovered after drawing support form 0.9659 support Intraday bias is turned neutral first. Further decline is in favor as long as 0.9770 support turned resistance holds. Break of 0.9646 will target 0.9541. 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 0.9857) instead.

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) 0.9633; (P) 0.9675; (R1) 0.9699; More…..

USD/CHF’s breach of 0.9640 low suggests that recent decline from 1.0067 is resuming. Intraday bias is back on the downside for 0.9523 fibonacci level. On the upside, above 0.9688 minor resistance will dampen this bearish case and turn bias neutral first. Break of 0.9757 resistance will indicate near term reversal and bring stronger rebound back to 0.9866 support turned resistance.

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) 0.9635; (P) 0.9669; (R1) 0.9722; More….

USD/CHF’s rally continues today and intraday bias remains on the upside. Current up trend should target next medium term projection level at 0.9864. On the downside, below 0.9669 minor support will turn intraday bias neutral and bring consolidations. But downside of retreat should be contained above 0.9459 resistance turned support to bring another rally.

In the bigger picture, down trend from 1.0342 (2016 high) should 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 100% projection of 0.8756 to 0.9471 from 0.9149 at 0.9864. This will now remain the favored case as long as 0.9459 resistance turned support holds.

Daily Pivots: (S1) 0.9437; (P) 0.9466; (R1) 0.9486; More…

Intraday bias in USD/CHF remains neutral for the moment as range trading continues. On the downside, below 0.9420 minor support will bring retest of 0.9376 low. Break will resume the whole decline form 0.9901 and target 100% projection of 0.9901 to 0.9502 from 0.9736 at 0.9337. On the upside, firm break of 0.9554 will resume the rebound from 0.9376 instead. In this case, further rally would be seen to 55 day EMA (now at 0.9586).

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 from 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) 0.9106; (P) 0.9131; (R1) 0.9172; More…

Intraday bias in USD/CHF stays neutral for the moment. Further decline remains in favor as long as 0.9197 resistance holds. Below 0.9087 will bring retest of 0.8998 low first. On the upside, however, break of 0.9197 will extend the corrective pattern from 0.8998 with another rise to 0.9304 resistance and above.

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 0.9376 support turned resistance will be an early sign of trend reversal and turn focus back to 0.9901 key resistance for confirmation.

Daily Pivots: (S1) 0.9996; (P) 1.0026; (R1) 1.0058; More…

Breach of 0.9982 minor support suggests that USD/CHF has finally formed a short term top. It’s at 1.0056 after failing to sustain above 1.0037 key resistance. Intraday bias is turned to the downside for pull back to trend line support (now at 0.9761). At this point, we’d expect strong support from there to bring rally resumption. On the upside, sustained break of 1.0037 will resume recent rise for 1.0342 key resistance next.

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 0.9648 resistance turned support holds, even in case of pull back.

Daily Pivots: (S1) 0.9672; (P) 0.9704; (R1) 0.9761; More…

Intraday bias in USD/CHF remains on the upside at this point, for 0.9082 resistance. Break will target a test on 0.9901 resistance. On the downside, below 0.9588 will turn bias to the downside for 0.9502 support. Overall, price actions from 0.9901 are in progress and downside should be contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound.

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.