Daily Pivots: (S1) 0.8959; (P) 0.8984; (R1) 0.9002; More….

Intraday bias in USD/CHF remains neutral as consolidation from 0.8929 is extending. Outlook stays bearish for deeper decline. On the downside, break of 0.8929 will resume the fall from 0.9471 to retest 0.8756 low. However, firm break of 0.9052 will turn bias to the upside for stronger rebound, and target 38.2% retracement of 0.9471 to 0.8929 at 0.9136 first.

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) 0.9229; (P) 0.9251; (R1) 0.9286; More….

Consolidations continues in USD/CHF below 0.9331 and intraday bias remains neutral first. Rises from 0.9017 and 0.8925 are in favor to continue as long as 0.9162 support holds. On the upside, break of 0.9331 resistance will target 0.9471 key resistance. Sustained break there will carry larger bullish implications. However, break of 0.9162 will turn bias back to the downside for 0.9017 support instead.

In the bigger picture, the strong rally above 55 week EMA (now at 0.9182) now tilts favor to the case of bullish trend reversal. That is, decline from 1.3042 (2016 high) is probably completed at 0.8756 already. Sustained break of 0.9471 resistance should confirm this case and pave the way to retest 1.0342 ahead. However, rejection by 0.9471 will mix up the outlook again and retain some medium term bearishness.

USD/CHF edged lower to 0.8984 last week but recovered since then. Initial bias remains neutral this week first and some more consolidations could be seen. But outlook stay bearish as long as 0.9163 resistance holds. On the downside, break of 0.8984 will resume the fall from 0.9471 to retest 0.8756 low.

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.

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) 0.8975; (P) 0.9035; (R1) 0.9064; More….

Intraday bias in USD/CHF remains on the downside at this point. Fall from 0.9471 should target a test on 0.8756 low. On the upside, break of 0.9163 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain mildly bearish in case of recovery.

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) 0.8917; (P) 0.8944; (R1) 0.8963; More…

Range trading continues in USD/CHF and intraday bias stays neutral. On the downside, break of 0.8900 will resume the fall from 0.9146 to 0.8818 low or below. But for now, strong support is still expected from 0.8756 long term support to bring rebound. On the upside, above 0.9011 will bring stronger rise towards 0.9146 resistance.

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), which might have completed at 0.8818 already, just ahead of 0.8756 long term support. Sustained trading above 0.9058 support turned resistance should confirm medium term bottoming.

Daily Pivots: (S1) 0.9165; (P) 0.9184; (R1) 0.9218; More….

Intraday bias in USD/CHF remains neutral for the moment. 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.

Daily Pivots: (S1) 0.8827; (P) 0.8873; (R1) 0.8904; More….

Consolidation from 0.8822 is still extending and intraday bias in USD/CHF remains neutral first. Upside of recovery should be limited by 0.8982 resistance to bring fall resumption. On the downside, break of 0.8822 will resume larger down trend for 61.8% projection of 0.9901 to 0.8998 from 0.9304 at 0.8746 next.

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) 0.8788; (P) 0.8813; (R1) 0.8835; More….

Intraday bias in USD/CHF remains neutral at this point, and more consolidations could be seen below 0.8884. Nevertheless, further rally is expected as long as 0.8727 resistance turned support holds. On the upside, break of 0.8885 will resume the rise from 0.8332 and target and 100% projection of 0.8332 to 0.8727 from 0.8550 at 0.8954. However, sustained break of 0.8727 will dampen this bullish view, and turn bias back to the downside for 0.8550 support instead.

In the bigger picture, a medium term bottom should be formed at 0.8332, on bullish convergence condition in W MACD, just ahead of 0.8317 long term fibonacci support. It’s still early to decide if the larger down trend from 1.0146 (2022 high) is reversing. But further rise should be seen to 0.9243 resistance even as a correction.

Daily Pivots: (S1) 0.9272; (P) 0.9312; (R1) 0.9337; More…

Intraday bias in USD/CHF remains on the downside for the moment. Fall from 0.9901 should target a test on 0.9181 low. We’ll looking for bottoming around there. On the upside, break of 0.9362 support turned resistance will turn intraday bias neutral first. But break of 0.9467 resistance is needed to indicate short term bottoming. Otherwise, near term outlook will stay bearish in case of recovery.

In the bigger picture, USD/CHF is still staying in long term range pattern from 1.0342, (2016 high). While deeper fall could be seen, we do not expect a firm break of 0.9181/86 support zone (2018 and 2020 low). Hence, we’d look for bottoming signal as it approaches this zone. However, sustained break there will carry long term bearish implications for next key support at 0.8336.

Daily Pivots: (S1) 0.9236; (P) 0.9269; (R1) 0.9298; More…

Intraday bias in USD/CHF remains neutral for the moment. Corrective pattern from 0.9058 low should still be in progress with rise from 0.9070 as the third leg. Above 0.9339 will target 0.9439 resistance and possibly above. But overall, outlook will stay bearish as long as 0.9474 fibonacci level holds, and another decline through 0.9058 is expected at a later stage.

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. 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, such 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) 0.9258; (P) 0.9282; (R1) 0.9316; More….

Sideway trading continues in USD/CHF and intraday bias remains neutral. 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.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9907; (P) 0.9975; (R1) 1.0018; More…..

USD/CHF’s fall from 1.0342 resumed after breaking 0.9958 temporary low. Intraday bias is back on the downside for deeper decline. Fall from 1.0342 is seen as the third leg of the pattern from 1.0327. Next target will be 61.8% retracement of 0.9443 to 1.0342 at 0.9786 and below. On the upside, however, break of 1.0043 will indicate short term bottoming and turn bias back to the upside.

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) 0.8733; (P) 0.8747; (R1) 0.8763; More….

Intraday bias in USD/CHF remains mildly on the upside despite loss of momentum. Rise from 0.8332 should target 61.8% retracement of 0.9243 to 0.8332 at 0.8995. On the downside, below 0.8687 minor support will turn intraday bias neutral first. But near term outlook will stay cautiously bullish as long as 0.8550 support holds.

In the bigger picture, there is prospect of medium term bottoming at 0.8332 considering possible bullish convergence condition in W MACD, and the support from 0.8317 long term fibonacci support. Sustained trading above 55 D EMA (now at 0.8681) will affirm this case, and bring stronger rise back towards 0.9243 resistance, even as a corrective move.

Daily Pivots: (S1) 0.9665; (P) 0.9709; (R1) 0.9737; More…

USD/CHF’s firm break of 0.9695 support now suggests resumption of fall from 1.0237. Intraday bias is back on the downside for 0.9587 fibonacci level first. Break will target 100% projection of 1.0237 to 0.9695 from 0.9975 at 0.9433. On the upside, break of 0.9797 minor resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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.

USD/CHF dropped notably last week and the breach of 0.9141 support argues that rebound from 0.8925 has completed at 0.9273 already, after rejection by 61.8% retracement of 0.9471 to 0.8925 at 0.9262. Initial bias is mildly on the downside this week for 55 day EMA (now at 0.9119) first. Sustained break there will pave the way back to retest 0.8925 low. For now, risk will stay on the downside as long as 0.9273 resistance holds, in case of recovery.

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.

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) 0.9677; (P) 0.9730; (R1) 0.9758; More…

USD/CHF’s decline from 0.9868 accelerates to as low as 0.9546 so far. Current fall is seen as the corrective pattern from 1.0063. Intraday bias stays on the downside for 0.9369 support. On the upside above 0.9707 minor resistance will turn intraday bias neutral first.

In the bigger picture, current development suggests that up trend from 0.8756 (2021 low) is still in progress. Sustained break of 1.0063 will target 100% projection of 0.9149 to 1.0063 from 0.9369 at 1.0283, and then 1.0342 (2016 high). For now, this will remain the favored case as long as 0.9369 support holds, even in case of deep pull back.

Daily Pivots: (S1) 0.9106; (P) 0.9131; (R1) 0.9172; More…

Intraday bias in USD/CHF remains neutral at this point. 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) 0.9189; (P) 0.9215; (R1) 0.9250; More….

Intraday bias in USD/CHF remains mildly on the upside, as rise from 0.9017 is resuming for 0.9273 resistance first. Firm break there will solidify near term bullishness for 0.9471 resistance next. However, break of 0.9149 support will turn focus back to 0.9098 support instead.

In the bigger picture, USD/CHF is still struggling around 55 week EMA (now at 0.9178) 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) 0.9123; (P) 0.9151; (R1) 0.9196; More…

Intraday bias in USD/CHF remains neutral as consolidation is extending. With 0.9241 resistance intact, further fall is still expected. On the downside, break of 0.9050 will resume larger down trend. Though, break of of 0.9241 will confirm short term bottoming and turn bias to the upside for 0.9376 support turned resistance.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). Current development suggests that such pattern is still extending. Sustain 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.

Daily Pivots: (S1) 0.9890; (P) 0.9957; (R1) 1.0011; More…

USD/CHF rises to as high as 1.0016 and hit 61.8% retracement of 1.0237 to 0.9659 at 1.0016. With 0.9949 minor support intact, intraday bias stays on the upside. Break of 1.0016 will target 78.6% retracement at 1.0113. On the downside, break of 0.9949 will turn intraday bias neutral first. But further rally is expected as long as 0.9843 support holds.

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.