Daily Pivots: (S1) 0.9738; (P) 0.9759; (R1) 0.9788; More…

Intraday bias in USD/CHF remains on the downside for 0.9613 low. Corrective rise from there should have completed at 0.9848, after rejection by 38.2% retracement of 1.0237 to 0.9613 at 0.9851. Firm break of 0.9613 will resume larger fall from 1.0237, for 0.9541 support. On the upside, above 0.9751 minor resistance will turn intraday bias neutral. But risk will stay on the downside as long as 0.9848 resistance holds, in case of recovery.

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.

A temporary top is formed at 0.9880 in USD/CHF and intraday bias is turned neutral first. Near term outlook remains bullish as long as 0.9736 support holds. Medium term fall from 1.0342 should have completed at 0.9420 already. Above 0.9880 will 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. However, break of 0.9736 support will mixed up the near term outlook and turn bias back to the downside for 0.9587 support instead.

Daily Pivots: (S1) 0.9826; (P) 0.9854; (R1) 0.9876; More….

A temporary top is formed at 0.9880 in USD/CHF and intraday bias is turned neutral first. Near term outlook remains bullish as long as 0.9736 support holds. Medium term fall from 1.0342 should have completed at 0.9420 already. Above 0.9880 will 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. However, break of 0.9736 support will mixed up the near term outlook and turn bias back to the downside for 0.9587 support instead.

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) 0.8971; (P) 0.9009; (R1) 0.9028; More….

Intraday bias in USD/CHF remains neutral for the moment and some consolidations could be seen. Further rise is expected as long as 0.8925 support holds. Break of 0.9044 will extend the rebound, as a correction to whole fall from 0.9901, and target 38.2% retracement of 0.9901 to 0.8756 at 0.9193.

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 0.9295 resistance is needed to signal medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 0.9368; (P) 0.9396; (R1) 0.9449; More…

Intraday bias in USD/CHF remains neutral a this point. Break of 0.9428 will resume the rebound form 0.9058. But strong resistance could be seen at 38.2% retracement of 1.0146 to 0.9058 at 0.9474 to limit upside. Break of 0.9289 resistance turned support will indicate completion of the rebound and turn bias back to the downside. However, decisive break of 0.9474 will carry larger bullish implications and target 61.8% retracement at 0.9730.

In the bigger picture, decline from 1.0146 is seen as part of a long term sideway pattern. As long as 38.2% retracement of 1.0146 to 0.9058 at 0.9474 holds, another fall is in favor through 0.9058. However, sustained trading above 0.9474 will indicate that the medium term trend has reversed, and open up further rally to 61.8% retracement at 0.9730 and above.

Daily Pivots: (S1) 0.9763; (P) 0.9793; (R1) 0.9828; More…..

USD/CHF’s fall resumed after brief consolidation and intraday bias is back on the downside. Current fall from 1.0099 is part of the pattern from 1.0342 and should target 100% projection of 1.0342 to 0.9860 from 1.0099 at 0.9617. On the upside, above 0.9824 minor resistance will turn intraday bias neutral again and bring consolidations first, before staging another fall.

In the bigger picture, USD/CHF is 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.

Daily Pivots: (S1) 0.9494; (P) 0.9572; (R1) 0.9689; More…

Intraday bias in USD/CHF remains on the upside with focus on 0.9613 support turned resistance. Sustained break there will indicate bullish reversal and target 0.9484 resistance and above. On the other hand, rejection by 0.9613 will retain near term bearishness. Break of 0.9391 will turn bias to the downside for retesting 0.9181/6 key support zone.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). As long as 0.9613 support turned resistance holds, further fall could be seen to 100% projection 1.0342 to 0.9186 from 1.0237 at 0.9081. However, firm break of 0.9613 will suggest that 0.9186 key support (2018 low) was defended. USD/CHF should have then started another rising leg in the long term range pattern, towards resistance zone of 1.0237 and 1.0342 (2016 high).

USD/CHF’s rebound from 0.9478 extended higher last week. Initial bias stays on the upside this week for 0.9868 resistance. Firm break of 0.9868 resistance will argue that larger up trend is ready to resume through 1.0063. Overall, the corrective pattern from 1.0063 high could still extend. Below 0.9619 minor support will turn bias back to the downside for 0.9478 and below.

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.

In the long term picture, outlook is mixed with deeper than expected fall from 1.0063, but some support is seen from 55 week EMA (now at 0.9460). Overall, though, USD/CHF is seen as in sideway pattern from 1.0342 (2016 high). Range trading should continue until further development.

Daily Pivots: (S1) 1.0086; (P) 1.0111; (R1) 1.0135; More…..

USD/CHF’s break of 1.0019 support confirms short term topping at 1.0342. More importantly, rise from 0.9443 has completed at 1.0342 after failing to sustain above 1.0327 key resistance. Intraday bias is turned back to the downside for 0.9443/9548 support zone. On the upside, above 1.0135 minor resistance will turn focus back to 1.0342 resistance intact.

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 extend 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) 0.9859; (P) 0.9901; (R1) 0.9926; More….

Intraday bias in USD/CHF remains neutral for the moment. On the upside, firm break of 1.0037 resistance will extend the rise from 0.9420 and target 1.0342 high. However, sustained break of 0.9835 resistance turned support will argue that whole rebound form 0.9420 is completed and turn outlook bearish. In that case, USD/CHF should target 61.8% retracement of 0.9420 to 1.0037 at 0.9565 and possibly below.

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 be 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) 1.0093; (P) 1.0127; (R1) 1.0154; More…

USD/CHF’s corrective fall from 1.0237 is in progress and deeper fall could be seen. But downside should be contained by 55 day EMA (now at 1.0081) to bring rebound. On the upside, break of 1.0237 will resume larger rise from 0.9186 to 1.0342 key resistance. However sustained break of the 55 day EMA would pave the way back to 0.9879 key support.

In the bigger picture, medium term up trend from 0.9186 is extending. Current rise should target 1.0342 resistance next. For now, we’d be cautious on strong resistance from there to limit upside, until we see medium term upside acceleration. On the downside, break of 0.9879 support is needed to indicate reversal. Otherwise, outlook will stay bullish in case of deep pull back.

Daily Pivots: (S1) 0.9847; (P) 0.9875; (R1) 0.9895; More…..

Further decline is expected in USD/CHF for 0.9812 support and below. However, price actions from 1.0342 are seen as a correction. Break of 0.9812 should be brief and we will look for bottoming signal below there. On the upside, break of 0.9956 resistance will suggest that fall from 1.0107 is completed and turn bias back to the upside for this 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 pair. 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) 0.9792; (P) 0.9813; (R1) 0.9846; More…

Intraday bias in USD/CHF remains neutral for consolidation above 0.9770 temporary low. Further decline is still expected as long as 0.9876 resistance holds. On the downside, below 0.9770 will resume the decline 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) 0.9929; (P) 0.9943; (R1) 0.9943; More…

Consolidation from 0.9908 temporary low is in progress and intraday bias stays neutral first. Another fall could be seen with 1.0006 minor support intact. Break of 38.2% retracement of 0.9541 to 1.0128 at 0.9904 will target 0.9848 key support level. On the upside, above 1.0006 minor resistance will indicate that the pull back has completed. Intraday bias will be turned back to the upside for retesting 1.0128 high.

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. However, break of 0.9848 near term support will dampen this view and bring deeper decline back to 0.9541 support and possibly below.

Daily Pivots: (S1) 0.8644; (P) 0.8670; (R1) 0.8707; More….

No change in USD/CHF’s outlook as focus remains on 0.8665 support turned resistance. Decisive break there will turn near term outlook bullish for 61.8% retracement of 0.9243 to 0.8332 at 0.8995. Nevertheless, break of 0.8565 minor support will turn intraday bias back to the downside for retesting 0.8332 low.

In the bigger picture, outlook in USD/CHF will stay bearish as long as 0.9243 resistance holds. Larger down trend from 1.0146 (2022 high) should resume through 0.8332 low at a later stage.

Daily Pivots: (S1) 1.0018; (P) 1.0033; (R1) 1.0056; More…

USD/CHF’s choppy recovery from 0.9879 resumed after brief consolidation and reaches as high as 1.0068. Intraday bias is back on the upside for 1.0124/8 resistance. . However, as the structure of the rise is corrective looking, we’d expect strong resistance from 1.0124 to limit upside to bring another decline. On the downside, below 0.9997 minor support will turn bias to the downside for 0.9879 support.

In the bigger picture, loss of upside momentum is seen is bearish divergence in daily MACD. But there is no clear sign of bearish reversal in USD/CHF yet. Rise fro 0.9186 is likely still in progress. Decisive break of 1.0128 resistance will resume this medium term rally to 1.0342 resistance next. This will remain the preferred case now, as long as 0.9716 support holds.

Daily Pivots: (S1) 1.0038; (P) 1.0077; (R1) 1.0101; More…..

Intraday bias in USD/CHF remains neutral for the moment. With 0.9966 support intact, further rise is in favor. Above 1.0140 will turn bias to the upside and target a test on 1.0342 resistance. Based on neutral medium term outlook, we’d be cautious on topping at around 1.0342. Meanwhile, break of 0.9966 will indicate completion of the rebound from 0.9860. And intraday bias will be turned back to the downside for 0.9860.

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.

USD/CHF recovered to 0.9469 last week but lost momentum and retreated. Initial bias is neutral this week first. At this point, there is no clear sign of trend reversal yet. Therefore, in case of another rise, we’d be e cautious on strong resistance from 38.2% retracement of 1.0037 to 0.9254 at 0.9553 to limit upside and bring decline resumption. On the downside, below 0.9339 minor support will turn bias to the downside for 0.9254. Nonetheless, firm break of 0.9553 will bring stronger rebound to 55 day EMA (now at 0.9616).

In the bigger picture, fall from 1.0342 is developing into 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.

In the long term picture, the strong break of 0.9420 support and downside acceleration turns the long term outlook rather bearish. Corrective rebound from 0.7065 (2011 low) could have already completed at 1.0342. 0.8698 support will be a key level to watch. Sustained break there could bring retest of 0.7065.

Daily Pivots: (S1) 0.9916; (P) 0.9969; (R1) 1.0021; More…

Intraday bias in USD/CHF stays neutral for the moment. While deeper retreat cannot be ruled out, break of 0.9779 support is needed to indicate short term topping. Otherwise, outlook will stay cautiously bullish in case of retreat. On the upside, above 1.0019 will target 1.0063 high first. Decisive break there will resume larger up trend.

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) 0.8536; (P) 0.8587; (R1) 0.8614; More….

USD/CHF’s decline continues today and falls through 0.8551 support without noticeable recovery. Longer term down trend is resuming. Intraday bias remains on the downside for 100% projection of 0.9111 to 0.8665 from 0.8819 at 0.8373 next. On the upside, above 0.8572 minor resistance will turn bias neutral and bring consolidations first. But risk will stay on the downside as long as 0.8665 support turned resistance holds.

In the bigger picture, break of 0.8551 support indicates resumption of whole decline from 1.0146 (2022 high). Next target is 61.8% retracement of 1.0146 to 0.8551 from 0.9243 at 0.8257. Sustained break there could prompt downside acceleration to 100% projection at 0.7648. This will now remain the favored case as long as 0.8819 resistance holds.

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.