Daily Pivots: (S1) 0.9757; (P) 0.9854; (R1) 0.9916; More…

No change in USD/CHF’s outlook. Intraday bias stays on the downside with 0.9861 minor resistance intact. Fall from 1.0237 is still in progress for 0.9716 support. On the upside, break of 0.9861 minor resistance will turn intraday bias neutral and bring consolidations. But recovery should be limited well below 1.0014 resistance to bring fall resumption.

In the bigger picture, USD/CHF’s break of long term trend line support is the first indication of medium term reversal. That is, rise from 0.9186 (2018 low) could have completed at 1.0237 already). Sustained break of 38.2% retracement of 0.9186 to 1.0237 at 0.9836 will confirm and target 61.8% retracement at 0.9587. However, strong rebound from 0.9836 will revive medium term bullishness for 1.0237 and above.

Daily Pivots: (S1) 0.9054; (P) 0.9074; (R1) 0.9087; More….

Intraday bias in USD/CHF stays mildly on the downside at this point. Further fall could be seen to retest 0.8982 low. Decisive break there will resume larger down trend. On the upside, above 0.9148 minor resistance will turn bias back to the upside for 0.9192/9207 resistance zone first.

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) 0.9913; (P) 0.9972; (R1) 1.0005; More…

Intraday bias in USD/CHF stays neutral at this point, as consolidation from 1.0146 is extending. Deeper retreat cannot be ruled out, but downside should be contained above 0.9799 support. On the upside, break of 1.0146 will resume larger up trend to 1.0283 projection level.

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 0.9779 support holds, even in case of deep pull back.

Daily Pivots: (S1) 0.9693; (P) 0.9717; (R1) 0.9756; More…

Intraday bias in USD/CHF remains neutral as it failed to sustain above 0.9762 resistance and retreated sharply. On the upside, firm break of 0.9762 will indicate short term bottoming at 0.9613, on bullish convergence condition in 4 hour MACD. Further rise would be seen back towards 1.0023 resistance. On the downside, break of 0.9678 minor support will retain near term bearishness and turn bias 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) 0.9183; (P) 0.9204; (R1) 0.9231; More….

Intraday bias in USD/CHF stays on the upside at this point. Rebound from 0.9084 short term bottom would target a test on 0.9367 resistance. On the downside, below 0.9172 minor support will turn intraday bias back to the downside for 0.9084 instead.

In the bigger picture, the corrective structure of the rebound from 0.8925 argues that fall from 0.9471 is not complete 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) 0.9575; (P) 0.9609; (R1) 0.9661; More…

Range trading continues in USD/CHF and intraday bias remains neutral. Strong support is expected at 61.8% retracement of 0.9193 to 1.0063 at 0.9525 to complete the pull back from 1.0063. On the upside, above 0.9763 minor resistance will turn bias back to the upside for retesting 1.0063 high. However, sustained break of 0.9525 will bring deeper decline to 0.9193 support.

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 1.0237/0342 resistance zone. This will remain the favored case as long as 0.9471 resistance turned support holds. However, sustained break of 0.9471 will extend long term range trading with another falling leg.

Daily Pivots: (S1) 0.9933; (P) 0.9952; (R1) 0.9964; More…

USD/CHF is losing some upside momentum as seen in 4 hour MACD. But with 0.9907 minor support intact, further rise is still expected to 1.0027 resistance first. Firm break there will resume whole rally from 0.9659. Next target is 78.6% retracement of 1.0237 to 0.9659 at 1.0113. On the downside, break of 0.9907 minor support will turn bias back to the downside for 0.9841 support instead.

In the bigger picture, corrective fall from 1.0237 should have completed at 0.9659 already, 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) 0.9925; (P) 0.9950; (R1) 0.9981; More…

USD/CHF’s rally is still in progress and intraday bias remains on the upside. Current rise from 0.9541 should target t 1.0067 key resistance and then 61.8% projection of 0.9541 to 0.9954 from 0.9848 at 1.0103. On the downside, break of 0.9848 support is needed to indicate short term topping. Otherwise, further rally will be expected even in case of retreat.

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.

Daily Pivots: (S1) 1.0002; (P) 1.0019; (R1) 1.0032; More…..

A temporary top is in place at USD/CHF with 4 hours MACD crossed below signal line. Intraday bias is turned neutral for some consolidations. Overall, we’re holding on to the view that corrective decline fall from 1.0342 should have finished with three waves down to 0.9812 already. Break of 1.0036 will turn bias to the upside for 1.0169 resistance. Break there will confirm this bullish case and target a test on 1.0342 high. On the downside, however, below 0.9948 minor support will turn bias back to the downside for 0.9812 instead.

In the bigger picture, USD/CHF is staying in medium term sideway pattern between 0.9443/1.0342. 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.

Daily Pivots: (S1) 0.8901; (P) 0.8925; (R1) 0.8959; More….

Intraday bias in USD/CHF remains neutral for the moment. Strong rebound from current level, followed by break of 0.8987 support turned resistance, will suggest that correction from 0.9223 has completed, and retain near term bullishness. However, sustained break of 0.8883 fibonacci level will carry larger bearish implications and bring deeper decline.

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) 0.9911; (P) 0.9940; (R1) 0.9962; More…..

Intraday bias in USD/CHF is neutral for the moment with 4 hour MACD trending up. At this point, with 0.9999 minor resistance intact, deeper fall is still in favor. Below 0.9897 temporary low will turn bias to the downside for 0.9812 and possibly below. Nonetheless, whole decline from 1.0342 is seen as a correction. Hence, we’ll look for bottoming signal below 0.9812. Meanwhile, on the upside, above 0.9999 minor resistance will turn bias back to the upside for 1.0107 resistance.

In the bigger picture, we’re still maintaining that firm break of 1.0342 key resistance is needed to confirm underlying bullish momentum in the cross. However, the corrective nature of the fall from 1.0342 is starting to give the medium term outlook a bullish favor. Hence, in stead of looking for topping signal around 1.0342, we’d now pay closer attention to upside acceleration as USD/CHF approaches this level again.

Daily Pivots: (S1) 0.9567; (P) 0.9629; (R1) 0.9676; More…

Fall from 1.0048 could extend but such decline is viewed as the third leg of the corrective pattern from 1.0063. Strong support should be seen at around 0.9543 to contain downside to bring rebound. On the upside, above 0.9731 minor resistance will turn bias back to the upside for retesting 1.0063 resistance. However, break of 0.9543 will bring deeper fall back to 0.9459 resistance turned support.

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 1.0237/0342 resistance zone. This will remain the favored case as long as 0.9471 resistance turned support holds. However, sustained break of 0.9471 will extend long term range trading with another falling leg.

Daily Pivots: (S1) 0.9139; (P) 0.9203; (R1) 0.9248; More….

Further decline remains in favor in USD/CHF with 0.9271 minor resistance intact. Fall from 0.9372 would target 0.9084 support. Firm break there will argue that choppy rise from 0.8925 has completed, and fall from 0.9471 is resuming. Deeper decline would be seen through 0.8925. Nevertheless, break of 0.9271 will turn bias back to the upside for retesting 0.9372.

In the bigger picture, the corrective structure of the rebound from 0.8925 argues that fall from 0.9471 is not complete 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) 0.9273; (P) 0.9294; (R1) 0.9327; More….

Intraday bias in USD/CHF remains neutral for the moment. On the upside, break of 0.9374 minor resistance will suggest that the pull back from 0.9459 has completed. Support from 55 day EMA will also retain near term bullishness. Intraday bias will be back on the upside for 0.9459 first. Break will resume the rise from 0.8756 to 61.8% projection of 0.8756 to 0.9471 from 0.9090 at 0.9532. However, sustained break of 55 day EMA (now at 0.9256) will target 0.9149 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 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) 0.9401; (P) 0.9429; (R1) 0.9474; More…

Despite the strong rebound from 0.9186, USD/CHF is still staying below 0.9469 resistance. Intraday bias remains neutral first. On the upside, considering bullish convergence condition in 4 hour MACD, break of 0.9469 will indicate near term reversal and turn outlook bullish for 55 day EMA (now at 0.9511) and above. On the downside, below 0.9321 minor support will bring retest of 0.9186. Break there will extend the larger down trend to 0.9115 medium term projection level next.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. Deeper decline should be seen to 100% projection of 1.0342 to 0.9420 from 1.0037 at 0.9115. Break will target 161.8% projection at 0.8545. In any case, sustained trading above 55 day EMA is needed to be the first sign of medium term reversal. Otherwise, outlook will stay bearish even in case of strong rebound.

Daily Pivots: (S1) 0.9953; (P) 0.9988; (R1) 1.0039; More….

Intraday bias in USD/CHF remains neutral for the moment. Consolidation from 1.0037 could extend. In case of another fall, downside should be contained above 0.9835 resistance turned support and bring rally resumption. On the upside break of 1.0037 will resume whole rally from 0.9420. And with sustained trading above 61.8% retracement of 1.0342 to 0.9420 at 0.9990, USD/CHF should then target a test on 1.0342 key resistance.

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 is 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) 0.9845; (P) 0.9886; (R1) 0.9913; More…

Intraday bias in USD/CHF remains neutral for the moment. At this point, we’d continue to look for strong support from 0.9841 to contain downside and bring rebound. On the upside, above 0.9926 minor resistance will turn bias back to the upside for retesting 1.0023/27 resistance zone. However, sustained break of 0.9841 will indicate near term reversal and pave the way back to 0.9659 support.

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) 0.9861; (P) 0.9886; (R1) 0.9934; More….

Intraday bias in USD/CHF remains on the upside for the moment. As noted before, medium term fall from 1.0342 should have completed at 0.9420 already. Current rally should target 61.8% retracement of 1.0342 to 0.9420 at 0.9990. Sustained break there will pave the way to retest 1.0342 high. On the downside, below 0.9837 minor support will turn bias neutral and bring consolidation. But outlook will remain bullish as long as 0.9736 support holds.

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 develop into a medium term move and 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 0.9587 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) 1.0033; (P) 1.0061; (R1) 1.0079; More….

Intraday bias in USD/CHF remains neutral for consolidation below 1.0098 temporary top. Further rally is expected as long as 0.9988 support holds. On the upside, above 1.0098 will target 1.0128 first. Break will confirm resumption of up trend from 0.9186. Next target will be 100% projection of 0.9541 to 1.0128 from 0.9716 at 1.0303. However, break of 0.9988 will indicate rejection by 1.0128 and turn intraday bias to the downside for 0.9716 support again.

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) 0.9881; (P) 0.9953; (R1) 0.9996; More…

Intraday bias in USD/CHF remains on the downside for the moment. Current fall from 1.0237 is still in progress for 0.9879 key support. Decisive break there will carry larger bearish implications and target 0.9716 support next. On the upside, break of 1.0008 support turned resistance is needed to indicate short term bottoming. Otherwise, outlook will remain mildly bearish in case of recovery.

In the bigger picture, USD/CHF’s break of long term trend line support is the first indication of medium term reversal. Focus is now back on 0.9879 support. Decisive break should add to the case that rise from 0.9186 has completed at 1.0237 already. Further fall should be seen to 0.9716 cluster support (50% retracement of 0.9186 to 1.0237 at 0.9712) next.