Daily Pivots: (S1) 0.9465; (P) 0.9525; (R1) 0.9568; More…

Intraday bias in USD/CHF remains on the downside at this point. With 0.9502 support broken, deeper decline would be seen to 61.8% retracement of 0.9181 to 0.9901 at 0.9456. We’d expect strong support from there to bring rebound. On the upside, break of 0.9541 minor resistance will turn intraday bias back to the upside. However, sustained break of 0.9456 will target 100% projection of 0.9901 to 0.9502 from 0.9736 at 0.9337.

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.

USD/CHF’s deeper than expected fall last week suggest that rise from 0.9926 has possibly completed at 1.0124 already, ahead of 1.0128 resistance. Initial bias stays mildly on the downside for 0.9926. Break will carry larger bearish implication. On the upside, though, break of 1.0063 minor resistance will turn bias back to the upside for retesting 1.0124 instead.

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 0.9926 support will be the first signal of medium term reversal and bring another test on the trend line.

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) 0.0.9863; (P) 0.9894; (R1) 0.9955; More…

USD/CHF’s rally is still in progress and intraday bias stays on the upside. Next target is 1.0067 resistance. On the downside, break of 0.9822 support is needed to indicate short term topping. Otherwise, near term outlook will remain bullish 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.

USD/CHF’s rally extended to as high as 1.0022 last week. The pair lost some upside momentum as seen in 4 hour MACD, but there is no sign of topping yet. Initial bias stays on the upside or 1.0037 resistance. Firm break there will pave the way to 1.0342 key resistance next. On the downside, though, below 0.9937 minor support will indicate short term topping. And, in that case, deeper retreat could be seen to 4 hour 55 EMA (now at 0.9897) and below before staging another rise.

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.

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’s rise form 0.8756 accelerated to as high as 0.9317 last week and broke 0.9295 resistance. There is no sign of topping yet and initial bias stays on the upside this week. Next target is 61.8% retracement of 0.9901 to 0.8756 at 0.9464. On the downside, break of 0.9135 minor support will turn intraday bias neutral again. But further rally is expected as long as 0.9044 resistance turned support holds.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 high). Firm break of 0.9295 resistance, and sustained trading above 55 week EMA (now at 0.9227), will suggest that the pattern has completed. In this case, further rise could be seen back to 1.0237/0342 resistance zone in the medium term. On the other hand, rejection by 0.9295 will retain medium term bearishness for another low below 0.8756.

In the long term picture, price actions from 0.7065 (2011 low) are currently seen as developing into a long term corrective pattern, at least until a firm break of 1.0342 resistance.

The late breach of 0.9956 minor support last week suggests that correction from 1.0056 is extending lower. Initial bias is mildly on the downside this week deeper decline. We’d expect strong support from trend line (now at 0.9799) to contain downside to bring rebound. But, on the upside, break of 1.0056 is needed to confirm rise resumption. Otherwise, more consolidation would be seen first even in case of 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.

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) 0.9233; (P) 0.9268; (R1) 0.9290; More…

USD/CHF’s fall from 0.9901 is still in progress and intraday bias remains on the downside. Deeper decline would be seen to 0.9181 low. We’ll look for bottoming around there. However, break of 0.9362 support turned resistance is needed to indicate short term bottoming. Otherwise, near term outlook will stay bearish in case of recovery.

In the bigger picture, USD/CHF is still staying in long term range pattern from 1.0342, (2016 high). While deeper fall could be seen, we do not expect a firm break of 0.9181/86 support zone (2018 and 2020 low). Hence, we’d look for bottoming signal as it approaches this zone. However, sustained break there will carry long term bearish implications for next key support at 0.8336.

USD/CHF’s down trend from 1.1046 resumed last week and fell to as low as 0.8858. A temporary low was formed there with subsequent recovery. Initial bias is turned neutral this week for some consolidations first. On the downside, below 0.8858 will resume the down trend to 61.8% projection of 1.0146 to 0.9058 from 0.9439 at 0.8767, which is close to 0.8756 long term support. Strong support is expected there to bring rebound, at least on first attempt. On the upside, break of 0.9070 support turned resistance will confirm short term bottoming and turn bias back to the upside.

In the bigger picture, fall from 1.1046 (2022 high) is in progress for 0.8756 support (2021 low). But overall, this fall is still seen 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. Sustained break of 0.9058 support turned resistance will be the first sign of medium term bottoming. However, decisive break of 0.8756 will carry larger bearish implications.

In the long term picture, long term sideway pattern from 1.0342 (2016 high) is expected to continue between 0.8756/1.0342. However, sustained break of 0.8756 will open up deeper fall back towards 0.7065 (2011 low).

Daily Pivots: (S1) 0.9520; (P) 0.9544; (R1) 0.9588; More…

Intraday bias in USD/CHF remain son the upside as rebound from 0.9186 is in progress. Further rise should be see to 0.9626 fibonacci level. We’d be cautious on strong resistance from 0.9626 to limit upside. Nonetheless, sustained break of 0.9626 will carry larger bullish implications. On the downside, break of 0.9423 will indicate completion of the rebound from 0.9186. And intraday bias would then be turned back to the downside for 0.9356 support and below.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. Current development is raising the chance that it is completed. But there is no confirmation yet. Focus will now be back on 38.2% retracement of 1.0342 (2016 high) to 0.9186 (2018 low) at 0.9626. Sustained break there will add much credence 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) 0.9900; (P) 0.9945; (R1) 0.9973; More…

Intraday bias in USD/CHF remains on the downside as the correction from 1.0056 is still in progress. Further decline would be seen to trend line (now at 0.9819). We’d expect strong support from there to contain downside and bring rebound. On the upside, above 0.9956 minor resistance 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.

Daily Pivots: (S1) 0.8959; (P) 0.8984; (R1) 0.9002; More….

USD/CHF is still staying in consolidation from 0.8929 and intraday bias remains neutral at this point. Outlook stays bearish for deeper decline. On the downside, break of 0.8929 will resume the fall from 0.9471 to retest 0.8756 low. However, firm break of 0.9052 will turn bias to the upside for stronger rebound, and target 38.2% retracement of 0.9471 to 0.8929 at 0.9136 first.

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) 0.9641; (P) 0.9690; (R1) 0.9716; More…

USD/CHF’s fall from 0.9884 resumes after brief recovery and intraday bias is back on the downside. Fall from 0.9884 is seen as a falling leg of the consolidation from 1.0063. Next target is 0.9493 support. On the upside, though, above 0.9738 minor resistance will turn bias back to the upside for 0.9884 resistance.

In the bigger picture, medium term up trend from 0.8756 (2021 low) is still in progress. Next target is 1.0342 (2016 high). Sustained break there will resume long term up trend from 0.7065 (2011 low). This will remain the favored case as long as 0.9471 resistance turned support holds.

USD/CHF’s rebound from 0.9181 extended to as high as 0.9901 last week. The break of 0.9484 resistance should indicate completion of fall from 1.0237. Initial bias remains is now on the upside this week for 1.0023 resistance. Break will target 1.0237 high. On the downside, below 0.9649 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

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). Further rise could be seen to retest 1.0237 high. After all, medium term range trading will likely continue between 0.9181/1.0237 for some 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.

Daily Pivots: (S1) 0.9132; (P) 0.9151; (R1) 0.9181; More…

USD/CHF’s break of 0.9161 resistance should confirm short term bottoming at 0.8998, on bullish convergence condition in 4 hour MACD. Intraday bias is turned back to the upside for 55 day EMA (now at 0.9230) and above. Such rise is currently seen as a corrective move and hence, we’d pay attention to topping around 38.2% retracement of 0.9901 to 0.8998 at 0.9343. On the downside, below 0.9082 minor support will turn bias back to the downside for retesting 0.8998 low instead.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low), which is still extending. Sustained 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.

Daily Pivots: (S1) 0.9038; (P) 0.9066; (R1) 0.9094; More….

Intraday bias in USD/CHF is turned neutral with current retreat. Some consolidations could be seen below 0.9093 temporary top first. On the upside, break of 0.9093 will resume the rise from 0.9756 to 100% projection of 0.8756 to 0.9044 from 0.8869 at 0.9127 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 0.9295 resistance is needed to signal medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 0.9093; (P) 0.9126; (R1) 0.9181; More….

USD/CHF rises to as high as 0.9163 so far. There is no sign of topping yet. Firm break of 100% projection of 0.8756 to 0.9044 from 0.8869 at 0.9157 will indicate upside acceleration. Next target is 0.9181 support turned resistance. On the downside, below 0.9093 minor support will turn intraday bias neutral 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. 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) 0.9555; (P) 0.9576; (R1) 0.9596; More…

USD/CHF rebounds strongly today and focus is back on 0.9648 resistance. Break there will firstly resume whole rebound from 0.9186. Secondly, sustained trading above 0.9626 key fibonacci resistance will will be another evidence of larger reversal. In that case, further rally should be seen back to next fibonacci level at 0.9900. On the downside, though, break of 0.9533 minor support should be another indication of rejection by 0.9626. Further break of 0.9432 will turn near term outlook bearish for retesting 0.9186 low.

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) 0.9062; (P) 0.9084; (R1) 0.9125; More…

Range trading continues in USD/CHF and intraday bias stays neutral. Consolidation from 0.9146 could extend further. But with 0.9013 minor support intact, further rally is expected. Rise from 0.8818 short term bottom is seen as correcting whole down trend from 1.0146. Above 0.9146 will target 38.2% retracement of 1.0146 to 0.8818 at 0.9325. On the downside, however, break of 0.9013 will turn bias back to the downside for retesting 0.8818 low 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), which might have completed at 0.8818 already, just ahead of 0.8756 long term support. Sustained trading above 0.9058 support turned resistance should confirm medium term bottoming. Further break of 0.9439 resistance will confirm bullish trend reversal.

Daily Pivots: (S1) 0.8986; (P) 0.9039; (R1) 0.9077; More….

Range trading continues in USD/CHF and intraday bias stays neutral. On the upside, break of 0.9086 resistance will indicate that pull back from 0.9243 has completed, and turn bias to the upside for retesting this high. However, sustained break of 38.2% retracement of 0.8551 to 0.9243 at 0.8979 will argue that deeper fall is under way to 61.8% retracement at 0.8815.

In the bigger picture, as long as 55 D EMA (now at 0.8976) holds rise from 0.8551 is viewed as reversing whole down trend from 1.0146 (2022 high). On resumption, further rise should be seen to 61.8% retracement of 1.0146 to 0.8551 at 0.9537 and above. However, sustained break of 55 D EMA will revive medium term bearishness, for retesting 0.8551 low at a later stage.

Daily Pivots: (S1) 0.8830; (P) 0.8874; (R1) 0.8897; More…

USD/CHF’s decline continues today and breaks 0.8818 and intraday bias stays on the downside. But while further decline could be seen, strong support is expected from 0.8756 to contain downside. On the upside, above 0.8900 support turned resistance will turn intraday bias back to the upside for rebound. first. However, decisive break of 0.8756 will carry larger bearish implication.

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.