Daily Pivots: (S1) 0.9974; (P) 0.9998; (R1) 1.0023; More….

Intraday bias in USD/CHF remains on the upside at this point. Outlook is unchanged that corrective decline from 1.0128 should have completed at 0.9716 already, after hitting trend line support. Further rally should now be seen back to retest 1.0128. On the downside, break of 0.9908 is needed to indicate completion of the rebound. Otherwise, outlook will stay cautiously bullish in case of retreat.

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) 0.9190; (P) 0.9212; (R1) 0.9233; More….

USD/CHF’s break of 0.9237 suggests resumption of rise from 0.8925. Intraday bias is back on the upside for 61.8% retracement of 0.9471 to 0.8925 at 0.9262. Sustained break there will pave the way to retest 0.9471 resistance. On the downside, however, break of 0.9141 minor support will turn bias to the downside for retesting 0.8925 low instead.

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) 0.9107; (P) 0.9153; (R1) 0.9181; More…

Intraday bias in USD/CHF remains neutral at this point as range trading is in progress. Corrective pattern from 0.9058 low is 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) 0.9358; (P) 0.9395; (R1) 0.9421; More…

Intraday bias in USD/CHF remains on the downside at this point. Current fall is part of the decline from 0.9901 and should target 100% projection of 0.9901 to 0.9502 from 0.9736 at 0.9337. Sustained break there will pave the way to retest 0.9181 low. On the upside, above 0.9453 minor resistance will turn intraday bias neutral first. But near term outlook will remain bearish as long as 0.9532 resistance holds.

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) 0.9892; (P) 0.9919; (R1) 0.9969; More….

Intraday bias in USD/CHF remains on the upside as rise from 0.9734 is still in progress for 1.0037 resistance. Firm break there will confirm resumption of whole rise from 0.9420 and target 61.8% projection of 0.9420 to 0.9734 from 1.0047 at 1.0115 next. On the downside, below 0.9909 minor support will turn bias neutral and bring consolidations first.

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) 0.9856; (P) 0.9894; (R1) 0.9915; More…

No change in USD/CHF’s outlook. Correction from 1.0056 is still in progress and intraday bias stays on the downside for 0.9787 support and possibly below. But we’d expect strong support from 0.9720/4 cluster support (38.2% retracement of 0.9186 to 1.0056 at 0.9724, 100% projection of 1.0056 to 0.9787 from 0.9989 at 0.9720) to bring rebound. On the upside, above 0.9989 will bring retest of 1.0056 high first.

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. However, sustained break of 0.9724 will dampen this bullish view and would at least bring deeper fall to 61.8% retracement at 0.9518.

Daily Pivots: (S1) 1.0018; (P) 1.0036; (R1) 1.0070; More…

Despite diminishing upside momentum, intraday bias in USD/CHF stays on the upside with 0.9982 minor support holds. Current rise should extend to 1.0342 key resistance next. On the downside, though, below 0.9982 minor support will indicate short term topping, on bearish divergence condition in 4 hour MACD. And, in that case, deeper retreat could be seen, possibly to trend line support (now at 0.9748) before staging another rally.

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) 0.8837; (P) 0.8933; (R1) 0.8988; More….

Intraday bias in USD/CHF remains on the downside at this point. Current fall from 0.9243 should target 100% projection of 0.9243 to 0.8886 from 0.9111 at 0.8754 next. On the upside, above 0.8898 minor resistance will turn intraday bias neutral and bring consolidations again. But in case of recovery, outlook will stay bearish as long as 0.8952 support turned resistance holds.

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 fall would be seen to 61.8% retracement of 0.8551 to 0.9243 at 0.8815. Sustained break there will bring retest of 0.8551 low. For now, this will remain the favored case as long as 0.9111 resistance holds.

Daily Pivots: (S1) 0.9149; (P) 0.9173; (R1) 0.9192; More….

USD/CHF is staying in consolidation above 0.9127 temporary low and intraday bias remains neutral first. With 0.9244 resistance intact, further fall is still expected. On the downside, below 0.9127 will extend the decline from 0.9471 to 61.8% retracement of 0.8756 to 0.9471 at 0.9029. Nevertheless, break of 0.9244 will indicate short term bottoming and turn bias to the upside for 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. We’ll monitor the downside momentum of the decline from 0.9471, to assess the chance of breakthrough 0.8756 low.

Daily Pivots: (S1) 0.9948; (P) 0.9971; (R1) 1.0003; More….

Intraday bias in USD/CHF remains neutral as it’s staying in consolidation from 0.9994. Another fall could be seen. But downside should be contained by 38.2% retracement of 0.9716 to 0.9994 at 0.9888 to bring another rally. As noted before, the corrective decline from 1.0128 should have completed at 0.9716 already. On the upside, break of 0.9994 will extend the rise from 0.9716 to retest 1.0128 next. On the downside, though, firm break of 0.9888 will target 61.8% retracement at 0.9822 before completing the retreat.

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) 0.9704; (P) 0.9720; (R1) 0.9740; More…

Intraday bias in USD/CHF stays neutral with focus on 0.9681 minor support. Break will extend the corrective pattern with another falling leg. Intraday bias will be turned to the downside for 0.9588 support first. But downside should be 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) 0.9690; (P) 0.9715; (R1) 0.9764; More…

USD/CHF is still bounded in consolidation from 0.9646 and intraday bias remains neutral. With 0.9770 resistance intact, further decline is expected. Break of 0.9646 will resume whole decline form 1.0237 and target 100% projection of 1.0237 to 0.9659 from 1.0023 at 0.9445. 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 0.9834) instead.

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) 0.9844; (P) 0.9865; (R1) 0.9894; More….

Intraday bias in USD/CHF remains on the upside for the moment. The pull back from 1.0037 should have completed at 0.9734 already. Further rise should be seen back to retest 1.0037. Break will resume whole rise from 0.9420 and target 61.8% projection of 0.9420 to 0.9734 from 1.0047 at 1.0115. On the downside, below 0.9836 minor support will dampen the bullish case and turn bias back to the downside for 0.9374 instead.

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) 1.0044; (P) 1.0075; (R1) 1.0127; More…..

USD/CHF’s upside is still limited below 1.0118 resistance and intraday bias remains neutral. Near term outlook stays cautiously bullish as long as 0.9929 minor support holds. Fall from 1.0342 could have finished at 0.9860 already. Above 1.0118 will turn bias back to the upside for retesting 1.0342. However, break of 0.9929 will likely extend the decline from 1.0342 through 0.9860 low.

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.

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USD/CHF edged higher to 0.9983 last week but failed to sustain above 0.9975 resistance and retreated. Initial bias remains neutral this week firs, for some sideway trading. On the upside, decisive break of 0.9975 will confirm completion of fall form 1.0237. Further rally would then be seen to retest this high. On the downside, though, break of 0.9854 will turn intraday bias to the downside for 0.9659 low.

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.

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) 0.8831; (P) 0.8851; (R1) 0.8882; More…

Intraday bias in USD/CHF stays neutral and consolidations from 0.8776 could extend. Further decline is expected as long as 0.8923 resistance holds. On the downside, break of 0.8776 will resume the fall from 0.9223 to 61.8% retracement of 0.8332 to 0.9223 at 0.8672 next. However, break of 0.8923 will turn bias back to the upside for stronger rebound instead.

In the bigger picture, with 0.9243 resistance intact, medium term outlook in USD/CHF is neutral at best. For now, more sideway trading is likely between 0.8332/9243. However, firm break of 0.9243 will indicate larger bullish trend reversal.

Daily Pivots: (S1) 0.8928; (P) 0.8959; (R1) 0.8978; More….

Intraday bias in USD/CHF is turned neutral first on today’s recovery. But outlook stays bearish as long as 0.9052 resistance holds. Current decline from 0.9471 should resume later, and target a test on 0.8756 low on next fall.

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) 0.9556; (P) 0.9602; (R1) 0.9638; More….

Intraday bias in USD/CHF remains mildly on the downside for 0.9420 support. With 0.9772 resistance intact, outlook remains bearish. Break of 0.9420 will resume medium term fall from 1.0342 and target next long term fibonacci level at 0.9090. However, firm break of 0.9772 will indicate trend reversal and turn outlook bullish.

In the bigger picture, current development suggests that 0.9443 key support (2016 low) could be taken out firmly as down trend form 1.0342 extends. There are various interpretation of the price actions. But in any case, medium term outlook will stay bearish as long as 0.9772 resistance holds. Current down trend could extend to 38.2% retracement of 0.7065 (2011 low) to 1.0342 (2016 high) at 0.9090. However, break of 0.9772 will indicate that USD/CHF has successfully defended 0.9443 again and turn outlook bullish for 1.0099 resistance.

USD/CHF’s rebound from 0.9543 extended higher last week and the development suggests that pull back from 1.0063 has completed. Initial bias stays on the upside this week for retesting 1.0063 first. Firm break there will resume larger up trend. On the downside, below 0.9722 minor support will turn intraday bias neutral first.

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.

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.

Daily Pivots: (S1) 0.9064; (P) 0.9092; (R1) 0.9113; More…

USD/CHF is still bounded in range above 0.9009 despite some volatility in early US session. Intraday bias remains neutral first. With 0.9197 resistance intact, further decline is still in favor. On the downside, break of 0.9009 will resume larger down trend. However, considering bullish convergence condition in 4 hour MACD, break of 0.9197 should confirm short term bottoming and turn bias back to the upside for rebound to 55 day EMA (now at 9282).

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.