Daily Pivots: (S1) 0.9695; (P) 0.9707; (R1) 0.9724; More…

Intraday bias in USD/CHF remains neutral as consolidation from 0.9613 is still in progress. Upside should be limited by 0.9762 resistance to bring down trend resumption. Below 0.9661 minor support will bring retest of 0.9613 low first. Break will target 100% projection of 1.0237 to 0.9659 from 1.0023 at 0.9445. However, considering bullish convergence condition in 4 hour MACD, break of 0.9762 will indicate near term reversal and turn outlook bullish for stronger rebound to 55 day EMA (now at 0.9787).

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) 0.9837; (P) 0.9879; (R1) 0.9911; More…

USD/CHF’s consolidation from 0.9954 is still in progress and deeper pull back cannot be ruled out. But downside should be contained by 38.2% retracement of 0.9541 to 0.9954 at 0.9796 to bring rise resumption. On the upside, break of 0.9954 will resume the rise from 0.9541 and target 1.0067 resistance next.

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) 0.8952; (P) 0.8969; (R1) 0.8982; More….

Intraday bias in USD/CHF remains neutral for the moment. On the upside, firm break of 0.8987 support turned resistance will argue that correction from 0.9223 has completed, after drawing support from 0.8883 fibonacci level. Intraday bias will be back on the upside for 0.9157/9223 resistance zone. Nevertheless, 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) 0.9876; (P) 0.9895; (R1) 0.9923; More…

Intraday bias in USD/CHF remains on the downside for 0.9484 support first. Sustained break there will confirm near term reversal and target 61.8% retracement of 0.9541 to 1.0128 at 0.9765 and below. On the upside, above 0.9943 minor resistance will turn intraday bias neutral first. But break of 1.0008 resistance is needed to indicate short term bottoming. Otherwise, near term outlook will now remain bearish in case of recovery.

In the bigger picture, rise from 0.9541 could have topped at 1.0128. But as long as 0.9541 support holds, we’d still expect rise from 0.9186 to resume at a later stage. Break of 1.0128 will target 1.0342 key resistance. However, break of 0.9514 will pave the way back to 0.9186 low.

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) 0.8998; (P) 0.9025; (R1) 0.9044; More….

Intraday bias in USD/CHF remains neutral and outlook is unchanged. 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) 0.9036; (P) 0.9056; (R1) 0.9072; More….

Intraday bias in USD/CHF stays on the downside for the moment. Rebound from 0.8925 should have completed at 0.9273. Deeper fall would be seen to retest 0.8925 low. On the upside, above 0.9116 support turned resistance will mix up the near term outlook and turn intraday bias neutral first.

In the bigger picture, failure to sustain above 55 week EMA (now at 0..9183) affirms medium term bearish in USD/CHF. Break of 0.8925 support should resume the whole decline form 1.0342 (2016 high) through 0.8756 low. For now, risk will stay on the downside as long as 0.9273 resistance holds, in case of rebound.

Daily Pivots: (S1) 0.9607; (P) 0.9623; (R1) 0.9649; More…

USD/CHF continues to press 0.9626 key fibonacci level but there is no sustained trading above there yet. On the upside, 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. However, rejection from 0.9262, followed by break of 0.9521 support, will turn bias back to the downside for 0.9432 support. Break there will indicate near term reversal and completion of rebound from 0.9186.

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) 0.9617; (P) 0.9652; (R1) 0.9675; More……

No change in USD/CHF’s outlook as price actions from 0.9551 are seen as a corrective move. Intraday bias stays neutral at this point. Outlook remains bearish as long as 0.9777 resistance holds. Below 0.9620 minor support will turn bias back to the downside first. Further break of 0.9551 will extend the decline from 1.0342 to 0.94443 key support level. At this point, we’d expect strong support from there to bring rebound. Meanwhile, break of 0.9777 will now indicate short term reversal, on bullish convergence condition in 4 hour MACD.

In the bigger picture, USD/CHF is still 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. However, sustained break of 0.9443 will carry larger bearish implication and target 0.9 handle.

Daily Pivots: (S1) 1.0027; (P) 1.0073; (R1) 1.0098; More…..

USD/CHF lost momentum after hitting 1.0118 and intraday bias is turned neutral first. 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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Daily Pivots: (S1) 0.9325; (P) 0.9336; (R1) 0.9355; More….

Intraday bias in USD/CHF remains neutral for the moment. Firm break of 0.9380 resistance will indicate 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, however, below 0.9280 minor support will turn bias to the downside for 0.9193 support 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) 1.0042; (P) 1.0082; (R1) 1.0124; More…..

Intraday bias in USD/CHF remains neutral as it’s staying in range of 1.0019/0342. As long as 1.0019 support holds, further rally is still mildly in favor. Firm break of 1.0342 will confirm up trend resumption. However, sustained break of 1.0019 will indicate near term reversal and could bring deeper fall bring to 0.9443/9548 support zone.

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 0.9443/9548 support zone.

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Daily Pivots: (S1) 0.9948; (P) 0.9987; (R1) 1.0011; More…

USD/CHF is staying in consolidation below 1.0026 temporary top and intraday bias remains neutral. Near term outlook remains bullish with 0.9848 support intact and further rise is in favor. On the upside, above 1.0026 will target 1.0067 resistance first. Decisive break there will confirm resumption of larger rise from 0.9186 and should target 1.0342 key resistance next. However, break of 0.9848 support will indicate near term reversal, on bearish divergence condition in 4 hour MACD, and turn outlook bearish.

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) 0.9158; (P) 0.9198; (R1) 0.9219; More….

Intraday bias in USD/CHF remains neutral for consolidation below 0.9237 temporary top first. On the upside, break of 0.9237 will resume the rise form 0.8925 to 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, sustained break of 4 hour 55 EMA (now at 0.9092) will bring retest of 0.8925 low instead.

In the bigger picture, medium term bearishness is neutralized by strong break of 55 week EMA. Focus is back 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.

Daily Pivots: (S1) 0.9832; (P) 0.9863; (R1) 0.9887; More…

USD/CHF’s rally and break of 0.9911 minor resistance argues that the correction from 1.0056 has completed at 0.9787 already. Intraday bias is now on the upside for 1.0056 first. Decisive break there will resume the whole rise from 0.9186 and target 1.0342 key resistance next. On the downside, below 0.9824 will extend the correction from 1.0056. But we’d expect strong support from 0.9724 fibonacci level to contain downside and bring rebound.

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) 0.8842; (P) 0.8864; (R1) 0.8880; More….

USD/CHF’s retreat from 0.8884 extends lower today and intraday bias remains neutral. Some more consolidative trading would be seen but downside should be contained by 0.8727 resistance turned support to bring another rally. On the upside, above 0.8884 will resume the rise from 0.8332 to 100% projection of 0.8332 to 0.8727 from 0.8550 at 0.8954. Firm break there will pave the way to 161.8% projection at 0.9189. 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, on bullish convergence condition in W MACD. 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.

USD/CHF’s decline last week suggests that correction from 0.9901 has started the third leg. Initial bias remains on the downside this week. Break of 0.9592 will target 0.9502 support and below. But downside should be contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound. On the upside, above 0.9669 minor resistance will turn bias neutral first.

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.

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.

USD/CHF surged further to as high 0.9224 last week before retreating. Initial bias remains neutral this week for some more consolidations. While deeper pull back cannot be ruled out, near term outlook will stay bullish as long as 0.9019 support holds. On the upside, break of 0.9224 will resume larger rally to 0.9439 resistance next.

In the bigger picture, current development indicates that rise from 0.8551 is reversing whole down trend from 1.0146. Further rally would then be seen to 61.8% retracement at 0.9537 and above. For now, this will be the favored case as long as 55 D EMA (now at 0.8923) holds, even in case of deep pullback.

In the long term picture, there is no clear sign that down trend from 1.8305 (2000 high) has completed. With 38.2% retracement of 1.8305 to 0.7065 at 1.1359 intact, outlook is neutral at best.

Daily Pivots: (S1) 0.8936; (P) 0.8968; (R1) 0.8984; More…

No change in USD/CHF’s outlook as consolidation from 0.8900 is extending. Intraday bias stays neutral and further decline is expected. On the downside, break of 0.8900 will resume the fall from 0.9146 to 0.8818 low or below. On the upside, above 0.9015 will bring stronger rise towards 0.9146 resistance instead.

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). While further decline cannot be ruled out, strong support is expected from 0.8756 long term support to bring reversal. Firm break of 0.9146 resistance should confirm medium term bottoming.

Daily Pivots: (S1) 0.9929; (P) 0.9959; (R1) 0.9983; More…

Intraday bias in USD/CHF stays neutral at this point. With 0.9894 minor support intact, another rise is in favor. The corrective fall from 1.0056 should have completed at 0.9787. Above 0.9989 will bring retest of 1.0056 first. Break will resume the rise from 0.9186 and target 61.8% projection of 0.9186 to 1.0056 from 0.9787 at 1.0325, which is close to 1.0342 key resistance. However, break of 0.9894 will likely extend the correction, possibly through 0.9787 before completion.

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.