Daily Pivots: (S1) 0.9790; (P) 0.9849; (R1) 0.9883; More…..

Intraday bias in USD/CHF remains on the downside for 0.9695 low. Break will resume the fall from 1.0237 to 0.9587 fibonacci level next. On the upside, above 0.9840 minor resistance will turn intraday bias neutral again. But further decline is expected as long as 0.9975 resistance holds.

In the bigger picture, up trend from 0.9186 (2018 low) should have completed at 1.0237 already. Deeper decline would be seen to 61.8% retracement of 0.9186 to 1.0237 at 0.9587 and below. For now, USD/CHF is seen as in long term range pattern between 0.9186 and 1.0342. Hence, we’d pay attention to bottoming signal below 0.9587. However, sustained break of 1.0014 will revive medium term bullishness and turn focus back to 1.0237 high.

Daily Pivots: (S1) 0.9678; (P) 0.9699; (R1) 0.9734; More…..

Further decline is still expected in USD/CHF with 0.9807 resistance intact. Current fall from 1.0342 should target 100% projection of 1.0342 to 0.9860 from 1.0099 at 0.9617. We’ll start to look for reversal signal below there. Meanwhile, break of 0.9807 will be the first sign of near term reversal. In such case, intraday bias will be turned back to the upside for 0.9860 support turned resistance for confirmation.

In the bigger picture, USD/CHF is 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.

Daily Pivots: (S1) 0.9963; (P) 0.9994; (R1) 1.0022; More…..

With 1.0121 minor resistance intact, deeper decline is still expected in USD/CHF. As noted before, rise from 0.9443 has completed at 1.0342 already, after failing to sustain above 1.0327 key resistance. Fall from there would now target 61.8% retracement of 0.9443 to 1.0342 at 0.9786 and below. On the upside, break of 1.0121 resistance is needed to indicate short term bottoming. Otherwise, near term outlook will stay bearish in case of recovery.

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 expect 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) 0.9140; (P) 0.9170; (R1) 0.9186; More…

Outlook in USD/CHF is unchanged and intraday bias stays neutral. Corrective pattern from 0.9058 low is in extending. Another rise cannot be ruled out, but upside should be limited by 0.9474 fibonacci level. On the downside, firm break of 0.9058 will resume larger down trend from 1.1046.

In the bigger picture, fall from 1.1046 (2022 high) should still be in progress with 38.2% retracement of 1.0146 to 0.9058 at 0.9474 intact. Prior rejection by 55 week EMA was a medium term bearish sign. Break 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.

Daily Pivots: (S1) 0.9802; (P) 0.9815; (R1) 0.9829; More…

No change in USD/CHF’s outlook as consolidation from 0.9659 is extending. Intraday bias remains neutral at this point. On the downside, break of 0.9659 will resume the fall from 1.0237 to 0.9587 fibonacci level. However, break of 0.9877 will target 0.9975 resistance instead.

In the bigger picture, up trend from 0.9186 (2018 low) should have completed at 1.0237 already. Deeper decline would be seen to 61.8% retracement of 0.9186 to 1.0237 at 0.9587 and below. For now, USD/CHF is seen as in long term range pattern between 0.9186 and 1.0342. Hence, we’d pay attention to bottoming signal below 0.9587. Nevertheless, break of 0.9975 resistance is needed to indicate completion of the decline from 1.0237. Otherwise, risk will stay on the downside.

Daily Pivots: (S1) 0.9551; (P) 0.9592; (R1) 0.9618; More….

At this point, USD/CHF is staying above 0.9535 temporary low and intraday bias remains neutral. Outlook stays bearish as long as 0.9689 support turned resistance holds. Break of 0.9535 will resume the decline from 1.0037 and target a test on 0.9420 low. Nonetheless, firm break of 0.9698 will be the first sign of near term reversal. And, intraday bias will be turned back to the upside for 0.9844 resistance for confirmation.

In the bigger picture, range trading continues between 0.9420/1.0342. At this point, 0.9420 appears to be a strong support level. Therefore, in case of decline attempt, we don’t expect a firm break of this level. Nonetheless, strong break of 1.0342 is also needed to confirm upside momentum. Otherwise, medium term outlook will stay neutral.

Daily Pivots: (S1) 0.8711; (P) 0.8745; (R1) 0.8784; More….

Intraday bias in USD/CHF stays mildly on the upside as rebound from 0.8551 would extend higher. Strong resistance could be seen from 0.8818 support turned resistance to complete the recovery. Below 0.8663 minor support will turn bias back to the downside for retesting 0.8551. However, decisive break of 0.8818 will carry larger bullish implication and target 0.9146.

In the bigger picture, down trend from 1.0146 is seen as in progress as long as 0.8188 support turned resistance holds. Next target is 61.8% retracement of 0.7065 (2011 low) to 1.0342 (2016 high) at 0.8317. However, sustained break of 0.8818 will be the first sign of medium term bottoming, and turn focus back to 0.9146 resistance for confirmation.

Daily Pivots: (S1) 0.9124; (P) 0.9161; (R1) 0.9181; More….

Intraday bias in USD/CHF remains neutral for the moment. Risk remains mildly on the downside with 0.9273 resistance intact. On the downside, sustained trading below 55 day EMA (now at 0.9126) will affirm the case that rebound from 0.8925 has completed at 0.9273. Deeper fall would then be seen back to retest 0.8925 low. On the upside though, break of 0.9273 and sustained trading above 61.8% retracement of 0.9471 to 0.8925 at 0.9262 will target 0.9471 resistance next.

In the bigger picture, medium term outlook is currently neutral with focus on 0.9471 resistance. Sustained break there will indicate completion of whole decline from 1.0342 (2016 high). Medium term outlook will be turned bullish for a test on 1.0342 high. But, rejection by 0.9471 again will revive bearishness for another fall through 0.8756 low.

Daily Pivots: (S1) 0.8992; (P) 0.9017; (R1) 0.9053; More….

Intraday bias in USD/CHF remains neutral for the moment, as it’s still bounded in range of 0.8952/9111. 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) 0.9868; (P) 0.9902; (R1) 0.9927; More…

Intraday bias in USD/CHF remains neutral for the moment. We’d continue to expect strong support from near term trend line (now at 0.9863) to complete the correction from 1.0056 to bring rise resumption. On the upside, above 0.9982 will bring retest of 1.0056 first. 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) 1.0037; (P) 1.0061; (R1) 1.0080; More…

Intraday bias in USD/CHF remains neutral with focus on 1.0094 resistance. Decisive break there and sustained trading above 1.0067 will confirm resumption of whole rise from 0.9541. USD/CHF should then target 1.0342 key resistance next. In case of another fall through 0.9952, downside should be contained by 38.2% retracement of 0.9541 to 1.0094 at 0.9883 to contain downside to bring rebound.

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, firm 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) 0.9674; (P) 0.9717; (R1) 0.9758; More…

USD/CHF is staying in tight range for now and intraday bias remains neutral. Corrective pattern from 0.9901 might still extend further. Break of 0.9665 minor support will turn bias to the downside for 0.9588 support and possibly below. But overall, downside contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound. On the upside, break of 0.9802 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) 0.9818; (P) 0.9844; (R1) 0.9869; More….

Intraday bias in USD/CHF remains neutral as recovery from 0.9776 is limited well below 0.9446 resistance. Another fall is in favor and break of 0.9776 will target 61.8% retracement of 0.9420 to 1.0037 at 0.9656. We’ll look for bottoming again below 0.9656 and above 0.9420. On the upside, break of 0.9946 resistance will indicate that the decline from 1.0037 has completed and bring retest of this resistance.

In the bigger picture, range trading continues between 0.9420/1.0342. At this point, 0.9420 appears to be a strong support level. Therefore, in case of decline attempt, we don’t expect a firm break of this level. Nonetheless, strong break of 1.0342 is also needed to confirm upside momentum. Otherwise, medium term outlook will stay neutral.

Daily Pivots: (S1) 0.8627; (P) 0.8680; (R1) 0.8728; More….

Intraday bias in USD/CHF remains mildly on the downside for the moment. Current decline from 0.9243 should extend to target 0.8551 key support level. For now, near term outlook will stay bearish as long as 0.8819 resistance holds, in case of recovery.

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. Meanwhile, break of 0.9111 resistance will argue that the third leg has started already, and target 0.9243 and above.

Daily Pivots: (S1) 0.9806; (P) 0.9844; (R1) 0.9872; More….

Intraday bias in USD/CHF remains neutral as recovery from 0.9776 is limited well below 0.9446 resistance. Another fall is in favor and break of 0.9776 will target 61.8% retracement of 0.9420 to 1.0037 at 0.9656. We’ll look for bottoming again below 0.9656 and above 0.9420. On the upside, break of 0.9946 resistance will indicate that the decline from 1.0037 has completed and bring retest of this resistance.

In the bigger picture, range trading continues between 0.9420/1.0342. At this point, 0.9420 appears to be a strong support level. Therefore, in case of decline attempt, we don’t expect a firm break of this level. Nonetheless, strong break of 1.0342 is also needed to confirm upside momentum. Otherwise, medium term outlook will stay neutral.

Daily Pivots: (S1) 0.9016; (P) 0.9041; (R1) 0.9079; More….

Intraday bias in USD/CHF remains neutral for the moment, and some more consolidations should be seen. Deeper decline cannot be ruled out, but outlook will stay bullish as long as 0.8884 resistance turned support holds. On the upside, break of 0.9094 will resume larger rise from 0.8332 to 0.9243 key resistance.

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) 0.9916; (P) 0.9947; (R1) 0.9964; More…

Intraday bias in USD/CHF remains neutral first. Further rise is expected as long as 0.9911 minor support holds. Consolidation from 1.0227 could have completed at 0.9851 already. Above 0.9978 will target 1.0027 high. Break will resume whole rally from 0.9659. On the downside, however, break of 0.9911 will turn bias back to the downside for 0.9851.

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) 0.8995; (P) 0.9070; (R1) 0.9110; More….

Intraday bias in USD/CHF remains on the downside for the moment. Fall from 0.9157 is seen as the third leg of the pattern from 0.9223. Deeper fall would be seen to 0.8987 support. Break will target 100% projection of 0.9223 to 0.8987 from 0.9157 at 0.8921. On the upside, above 0.8904 minor resistance will turn intraday bias neutral first.

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) 0.9893; (P) 0.9919; (R1) 0.9941; More….

Corrective pattern from 1.0037 is still unfolding and intraday bias remains neutral. On the upside, firm break of 1.0037 resistance will extend the rise from 0.9420 and target 1.0342 high. However, sustained break of 0.9835 resistance turned support will argue that whole rebound form 0.9420 is completed and turn outlook bearish. In that case, USD/CHF should target 61.8% retracement of 0.9420 to 1.0037 at 0.9565 and possibly below.

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 be a medium term up move and should 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.

Daily Pivots: (S1) 0.9565; (P) 0.9671; (R1) 0.9738; More…

USD/CHF’s deeper than expected decline and break of 0.9649 minor support dampens out immediate bullish view. Deeper fall is expected as long as 0.9718 minor resistance holds, for 61.8% retracement of 0.9181 to 0.9901 at 0.9456. Sustained break there will target a test on 0.9181/6 key support holds. nevertheless, break of 0.9718 will indicate completion of the pull back. Intraday bias will be turned back to the upside for 0.9901 next.

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.