Daily Pivots: (S1) 0.9958; (P) 1.0016; (R1) 1.0072; More…

Intraday bias in USD/CHF remains neutral for consolidation below 1.0072. On the upside, break of 1.0072, and sustained trading above 1.0063, will confirm larger up trend resumption. Next target is 1.0283 projection level. However, break of 0.9914 support will indicate rejection by 1.0063, and turn bias back to the downside for 0.9779 support 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) 0.9905; (P) 0.9953; (R1) 0.9985; More…..

USD/CHF’s fall from 1.0169 is still in progress and intraday bias remains on the downside. The pair should now target 0.9860 support next. Whole decline from 1.0342 is likely resuming and break of 0.9860 will target 100% projection of 1.0342 to 0.9860 from 1.0169 at 0.9687. Nonetheless, on the upside, break of 1.0002 minor resistance will turn bias back to the upside for 1.0169 resistance 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) 0.8833; (P) 0.8866; (R1) 0.8885; More….

Intraday bias in USD/CHF stays neutral for the moment. On the upside, decisive break of 0.8925 resistance should confirm short term bottoming at 0.8756. Intraday bias will be turned back to the upside for 38.2% retracement of 0.9901 to 0.8756 at 0.9193. Though, break of 0.8821 minor support will retain near term bearishness. Intraday bias will be turned back to the downside for retesting 0.8756 low 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 0.9294 resistance is needed to signal medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 0.9103; (P) 0.9142; (R1) 0.9164; More….

USD/CHF is staying in range below 0.9243 despite the bounce in early US session. Intraday bias remains neutral first. Near term outlook will stay bullish as long as 0.9089 support holds. On the upside, break of 0.9243 will resume the rally from 0.8551 and target 0.9439 resistance next. However, firm break of 0.9089 will confirm short term topping, and turn bias back to the downside for deeper pull back.

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 0.8963) holds, even in case of deep pullback.

Daily Pivots: (S1) 106.07; (P) 106.28; (R1) 106.54; More…

No change in USD/JPY’s outlook as it’s staying in consolidation from 105.04. Intraday bias remains neutral first. With 107.09 minor resistance intact, further decline is in favor. On the downside, break of 105.04 will resume larger decline from 112.40 to 104.69 low. Break will target 100% projection of 112.40 to 106.78 from 109.31 at 103.69. On the upside, though, break of 107.09 resistance will indicate short term bottoming. In this case, stronger rebound would be seen back to 55 day EMA (now at 107.75).

In the bigger picture, decline from 118.65 (Dec 2016) is still in progress and the pair is staying well inside long term falling channel. Break of 104.62 will target 100% projection of 118.65 to 104.62 from 114.54 at 100.51. For now, we’d expect strong support above 98.97 (2016 low) to contain downside to bring rebound. In any case, break of 112.40 is needed to the first serious sign of medium term bullishness. Otherwise, further decline will remain in favor in case of rebound.

Daily Pivots: (S1) 0.9800; (P) 0.9810; (R1) 0.9824; More…

USD/CHF is staying in consolidation from 0.9770 and intraday bias remains neutral first. With 0.9876 resistance intact, further decline is expected. On the downside, below 0.9770 will resume the fall from 1.0023 and target 0.9659 low. However, break of 0.9876 will turn bias back to the upside for 1.0023 resistance.

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) 0.9128; (P) 0.9143; (R1) 0.9160; More….

Intraday bias in USD/CHF stays neutral and further rise is in favor with 0.9077 minor support intact. On the upside, above 0.9157 will resume the rebound from 0.8987 to retest 0.9223 high. On the downside, break of 0.9077 support will bring retest of 0.8987. Break there will resume the fall from 0.9223 to 38.2% retracement of 0.8332 to 0.9223 at 0.8883.

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.

USD/CHF’s rally from 0.8851 accelerated higher last week and there is no sign of topping. Initial bias stays on the upside this week for 0.9146/60 cluster resistance. On the downside, break of 0.8982 minor support will turn intraday bias neutral first. But further rally will remain in favor as long as 0.8874 resistance turned support holds, in case of retreat.

In the bigger picture, rebound from 0.8551 medium term bottom is currently seen as a correction to the downtrend from 1.0146 (2022 high). Further rally would be seen to 0.9146 cluster resistance (38.2% retracement of 1.0146 to 0.8551 at 0.9160). Strong resistance could be seen there to limit upside, at least on first attempt. However, decisive break of 0.9146/60 will indicate trend reversal, and target 61.8% retracement at 0.9537.

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) 0.9221; (P) 0.9259; (R1) 0.9291; More….

Range trading continues in USD/CHF and intraday bias remains neutral for the moment. Further rise will remain mildly in favor as long as 0.9090 support holds. break of 0.9372 will resume the choppy rally from 0.8925 to 0.9471 high. However, break of 0.9090 will turn bias back to the downside for 0.8925 support instead.

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.

Daily Pivots: (S1) 0.9422; (P) 0.9472; (R1) 0.9506; More…

Intraday bias in USD/CHF is staying on the downside for deeper fall. Sustained trading below 0.9443 key support will extend the down trend from 1.0342 to 161.8% projection of 1.0342 to 0.9860 from 1.0099 at 0.9319. On the upside, above 0.9492 minor resistance will turn bias neutral and bring recovery. But outlook will remain bearish as long as 0.9699 resistance holds.

In the bigger picture, focus is now back 0.9443 key support level. Sustained break there indicate underlying bearish momentum and would target 0.9 handle and possibly below. Meanwhile, strong rebound from current level and break 0.9699 resistance will extend long term range trading between 0.9443/1.0342.

Daily Pivots: (S1) 0.9778; (P) 0.9819; (R1) 0.9853; More…

Intraday bias in USD/CHF is turned neutral as it continued to lose upside momentum. As noted before, triangle correction from 1.0063 could have completed at 0.9369 already. On the upside, break of 0.9884 resistance will argue that larger up trend is ready to resume through 1.0063 high. On the downside, however, break of 0.9691 minor support will dampen this view and turn bias back to the downside for 0.9469 support instead.

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) 0.9568; (P) 0.9590; (R1) 0.9628; More…

USD/CHF’s rebound from 0.9186 extends today and reaches as high as 0.9629 so far. It’s now pressing 0.9626 key fibonacci level. For now, we’s still seeing the rebound as a corrective move. Hence, strong resistance should be seen at 0.9262 to bring reversal. On the downside, break of 0.9521 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. However, 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.

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) 0.9696; (P) 0.9732; (R1) 0.9778; More…..

USD/CHF is still staying in range below 0.9775 minor resistance and intraday bias remains neutral. With 0.9775 intact, another decline is mildly in favor. On the downside, break of 0.9651 will target 200% projection of 1.0067 to 0.9866 from 0.9981 at 0.8579 next. However, Firm break of 0.9775 will be an early sign of near term reversal. That is, fall from 1.0067 could have completed. In this case, further rally would be seen back to 0.9866 support turned resistance for confirmation.

In the bigger picture, current development suggests that rise from 0.9186 low has completed at 1.0067, after failing to sustain above 1.0037 resistance. Fall from 1.0067 could extend to 61.8% retracement of 0.9816 to 1.0067 at 0.9523 and below. But for now, we don’t expect a break of 0.9186 low. On the upside, firm break of 0.9866 support turned resistance will suggests that fall from 1.0067 has completed and rise from 0.9186 is resuming.

Daily Pivots: (S1) 0.9813; (P) 0.9848; (R1) 0.9914; More…

Intraday bias in USD/CHF remains mildly on the upside for the moment. Rebound from 0.9695 is in progress and would target 1.0014 resistance. But upside could be limited by 61.8% retracement of 1.0237 to 0.9695 at 1.0030. On the downside, below 0.9809 minor support will turn bias back to the downside for retesting 0.9695 low.

In the bigger picture, current development suggests that up trend from 0.9186 (2018 low) has 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) 0.8752; (P) 0.8778; (R1) 0.8811; More….

Focus stays on 0.8758 support in USD/CHF. Firm break there will argue that corrective rebound from 0.8551 has completed at 0.8874. Intraday bias will be turn back to the downside for 0.8688 support, and then 0.8551 low. Strong rebound from current level will retain near term bullishness though. Break of 0.8874 will resume the rise from 0.8551 to 0.9146 cluster resistance next.

In the bigger picture, rebound from 0.8551 medium term bottom is currently seen as a correction to the downtrend from 1.0146 (2022 high). Further rally would be seen to 0.9146 cluster resistance (38.2% retracement of 1.0146 to 0.8551 at 0.9160). Strong resistance could be seen there to limit upside, at least on first attempt. Nevertheless, medium term outlook is neutral at best as long as 0.8551 holds, until further developments.

Daily Pivots: (S1) 0.9713; (P) 0.9741; (R1) 0.9768; More…

Intraday bias in USD/CHF remains neutral first while consolidation pattern from 0.9901 might extend. On the downside, break of 0.9712 minor support should start the third leg. Intraday bias will be turned to the downside for 0.9592 support first. In this case, downside should be contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound. On the upside, break of 0.9502 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) 0.8838; (P) 0.8863; (R1) 0.8903; More….

Intraday bias in USD/CHF remains on the upside with focus on 0.8891 resistance. Decisive break there will confirm resumption of rally from 0.8332. Next target is 61.8% projection of 0.8550 to 0.8884 from 0.8728 at 0.8934. On the downside, below 0.8818 minor support will turn intraday bias neutral and bring consolidations. But outlook will stay bullish as long as as long as 0.8728 support holds, in case of retreat.

In the bigger picture, price actions from 0.8332 medium term bottom as seen as developing into a corrective pattern to the down trend from 1.0146 (2022 high). Further rise would be seen as long as 0.8555 support holds. But upside should be limited by 0.9243 resistance, at least on first attempt.

Daily Pivots: (S1) 0.9940; (P) 0.9975; (R1) 1.0000; More…..

USD/CHF’s fall from 1.0169 continues and intraday bias remains on the downside for 0.9860. Corrective rise from 0.9860 should have completed at 1.0169 and fall from 1.0342 is likely resuming. Break of 0.9860 will target 100% projection of 1.0342 to 0.9860 from 1.0169 at 0.9687. On the upside, 1.0018 minor resistance will turn bias neutral. But outlook will now stay bearish as long as 1.0169 resistance holds.

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.

Daily Pivots: (S1) 0.9984; (P) 1.0005; (R1) 1.0022; More….

Intraday bias in USD/CHF remains neutral at this point. On the downside, break of 0.9981 will resume the decline from 1.0098. Sustained trading below 55 day EMA (now at 0.9964) should confirm completion of rise form 0.9716, after rejection by 1.0128 resistance. In that case, deeper fall would be seen back towards 0.9716 support. On the upside, break of 1.0098 will extend the rise from 0.9716 to 1.0128 high next.

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) 0.9882; (P) 0.9934; (R1) 0.9971; More…

USD/CHF’s break of 0.9894 minor support suggests that rebound from 0.9787 is completed at 0.9989. And, correction from 1.0056 is extending. Intraday bias is turned back to the downside for 0.9787 support and possibly below. But we’d expect strong support from 38.2% retracement of 0.9186 to 1.0056 at 0.9724 to contain downside to bring rebound. On the upside, break of 0.9989 will target a test on 1.0056 first. Break will resume whole rise from 0.9186.

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.