Daily Pivots: (S1) 0.9397; (P) 0.9423; (R1) 0.9440; More…

Intraday bias in USD/CHF stays neutral for consolidation above 0.9369 temporary low. Upside should be limited well below 0.9648 resistance to bring another fall. Break of 0.9369 will resume larger fall to 100% projection of 0.9884 to 0.9468 from 0.9648 at 0.9232.

In the bigger picture, break of 0.9471 support turned resistance argues that medium term up trend from 0.8756 has completed with three waves up to 1.0063. Long term sideway pattern might have started another falling leg. Deeper decline would now be in favor as long as 0.9648 resistance holds, to 0.9149 structural support. Sustained break there could pave the way back to 0.8756.

Daily Pivots: (S1) 0.9123; (P) 0.9181; (R1) 0.9211; More….

Intraday bias in USD/CHF remains neutral at this point. On the upside, firm break of 0.9273 resistance will resume the whole rise from 0.8925 to 100% projection of 0.8925 to 0.9273 from 0.9017 at 0.9365. On the downside, however, break of 0.9128 will turn bias back to the downside for 0.9017 support instead.

In the bigger picture, the failure to sustain above 55 week EMA (now at 0.9184) retains 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. However, break of 0.9273 resistance and sustained trading above 55 week EMA will be an early sign of bullish trend reversal. Focus will then turn to 0.9471 resistance for confirmation.

Daily Pivots: (S1) 0.9967; (P) 1.0026; (R1) 1.0066; More…..

Intraday bias in USD/CHF remains neutral for the moment. On the upside, break of 1.0107 resistance will be in line with the view that correction from 1.0342 has completed at 0.9812. In such case, further rally would be seen to retest 1.0342 high. However, break of 0.9977 will dampen this view and turn bias back to the downside for 0.9858 first.

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) 0.8952; (P) 0.8977; (R1) 0.9001; More…

Intraday bias in USD/CHF remains neutral for the moment. Risk stays on the downside as long as 0.9146 resistance holds. Below 0.8900 will target 0.8818 and possibly below. But strong support is still expected from 0.8756 to bring reversal.

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.

Daily Pivots: (S1) 0.9280; (P) 0.9327; (R1) 0.9356; More….

Intraday bias in USD/CHF remains neutral at this point. On the downside, break of 0.9259, and sustained trading below 55 day EMA (now at 0.9261), will extend the fall from 0.9459 to 0.9149 support. On the upside, above 0.9380 minor resistance will bring retest of 0.9459 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 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) 0.9201; (P) 0.9235; (R1) 0.9256; More….

With 0.9280 minor resistance intact, correction from 0.9471 could extend lower. But downside should be contained by 38.2% retracement of 0.8756 to 0.9471 at 0.9198 to bring rebound. On the upside, above 0.9280 will turn bias to the upside for rebound back towards 0.9471 high. However, sustained break of 0.9198 will bring deeper fall to 61.8% retracement at 0.9029.

In the bigger picture, fall from 1.0237 should have completed at 0.8756, on bullish convergence condition in daily and weekly MACD. Current rally from 0.8756 should target 0.9901 resistance first. Break there will target 1.0237/0342 resistance zone in the medium term. However, sustained trading below 55 day EMA (now at 0.9192) will dampen revive medium term bearishness for down trend extension through 0.8756 at a later stage.

Daily Pivots: (S1) 0.9144; (P) 0.9161; (R1) 0.9191; More….

USD/CHF is staying in consolidation from 0.9090 and intraday bias remains neutral first. On the downside, firm break of 0.9084 support will argue that choppy rise from 0.8925 has completed. Fall from 0.9471 might be ready to resuming. Further decline would be seen back to 0.8925 support first. On the upside, above 0.9276 will target 0.9372 resistance instead.

In the bigger picture, the corrective structure of the rebound from 0.8925 argues that fall from 0.9471 is not complete yet. It could either be the second leg of pattern from 0.8756 (2021 low), or resuming larger down trend from 1.0237 (2018 high). We’d pay attention to the downside momentum and assess the odds later. But for now, medium term outlook will be neutral at best as long as 0.9471 resistance holds.

Daily Pivots: (S1) 0.9620; (P) 0.9661; (R1) 0.9699; More…

USD/CHF’s rally from 0.9541 resumed after very brief retreat and hits as high as 0.9741 so far. Intraday bias is back on the upside for 0.9757 resistance first. Break will target 0.9866 key resistance level, 61.8% retracement of 1.0067 to 0.9541 at 0.9866. On the downside, break of 0.9622 minor support is needed to indicate completion of the rebound. Otherwise, near term outlook will stay cautiously bullish even in case of retreat.

In the bigger picture, 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 possibly 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 suggest that fall from 1.0067 has completed and rise from 0.9186 is resuming.

Daily Pivots: (S1) 0.8947; (P) 0.8972; (R1) 0.9004; More…

Intraday bias in USD/CHF stays neutral for the moment. Rebound from 0.8818 short term bottom is expected to continue as long as 0.8918 minor support holds. On the upside, sustained trading above 55 D EMA (now at 0.9039) should confirm that current rally is at least correcting whole down trend from 1.0146. Further rise should then be seen to 38.2% retracement of 1.0146 to 0.8818 at 0.9325. On the downside, though, break of 0.8918 will bring retest of 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). 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.

Daily Pivots: (S1) 0.9968; (P) 1.0004; (R1) 1.0032; More…

Intraday bias in USD/CHF remains mildly on the downside as correction from 1.0056 short term top would extend. Break of 4 hour 55 EMA will bring deeper pull back to trend line support (now at 0.9764). At this point, we’d expect strong support from there to bring rally resumption. On the upside, sustained break of 1.0037 will resume recent rise for 1.0342 key resistance next.

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) 0.9198; (P) 0.9246; (R1) 0.9282; More…

Intraday bias in USD/CHF remains on the downside for the moment. Decline from 1.0146 would target 61.8% projection of 1.0146 to 0.9355 from 0.9545 at 0.9056. For now, outlook will remain bearish as long as 0.9341 resistance holds, in case of recovery.

In the bigger picture, rise from 0.8756 (2021 low) has completed at 1.0146, well ahead of 1.0342 long term resistance (2016 high). Based on current downside momentum, fall from 1.0146 might be a medium term down trend itself. Sustained break of 61.8% retracement of 0.8756 to 1.0146 at 0.9287 will pave the way to 0.8756. In any case, risk will stay on the downside as long as 0.9545 resistance holds.

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) 0.8921; (P) 0.8948; (R1) 0.8985; More…

Intraday bias in USD/CHF stays neutral as sideway trading continues. Break of 0.8900 will resume the fall from 0.9146 to 0.8818 low or below. But for now, strong support is still expected from 0.8756 long term support to bring rebound. On the upside, above 0.9011 will bring stronger rise towards 0.9146 resistance.

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.

Daily Pivots: (S1) 0.9205; (P) 0.9225; (R1) 0.9244; More….

USD/CHF edges lower today but there is no follow through selling so far. Focus stays on 38.2% retracement of 0.8756 to 0.9471 at 0.9198. Sustained trading below this level will extend the fall from 0.9471 to 61.8% retracement at 0.9029. On the upside, break of 0.9258 minor resistance will argue that corrective pull back from 0.9471 has completed. Intraday bias will be turned back to the upside for retesting this high.

In the bigger picture, fall from 1.0237 should have completed at 0.8756, on bullish convergence condition in daily and weekly MACD. Current rally from 0.8756 should target 0.9901 resistance first. Break there will target 1.0237/0342 resistance zone in the medium term. However, sustained trading below 55 day EMA (now at 0.9192) will revive medium term bearishness for down trend extension through 0.8756 at a later stage.

Daily Pivots: (S1) 0.9142; (P) 0.9167; (R1) 0.9195; More….

Intraday bias in USD/CHF is turned neutral as it lost momentum ahead of 0.9072 resistance. Further rise is still mildly in favor as long as 0.9115 minor support holds. Decisive break of 0.9207 resistance would be an early sign of bullish reversal and target 0.9304 resistance for confirmation. On the downside, below 0.9115 minor support will turn bias back to the downside for 0.8982 low instead.

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. On resumption, next target will be 138.2% projection of 1.0342 to 0.9186 from 1.0237 at 0.8639. Nevertheless, strong break of 0.9304 resistance will be an early sign of trend reversal and turn focus back to 0.9901 key resistance for confirmation.

Daily Pivots: (S1) 0.9048; (P) 0.9066; (R1) 0.9084; More….

Intraday bias in USD/CHF remains neutral for the moment. Further decline is in favor as long as 55 4H EMA (now at 0.9085) holds. On the downside, break of 0.9005 and sustained trading below 55 D EMA (now at 0.9006) will bring deeper fall to 38.2% retracement of 0.8332 to 0.9223 at 0.8883. However, firm break of 55 4H EMA will suggest that the pull back has completed, and bring stronger rebound to retest 0.9223 high.

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) 0.9089; (P) 0.9118; (R1) 0.9143; More….

Intraday bias in USD/CHF remains neutral as consolidation from 0.9079 temporary low is extending. Further fall is expected with 0.9180 minor resistance intact. On the downside, break of 0.9079 will resume the decline from 0.9471 to 61.8% retracement of 0.8756 to 0.9471 at 0.9029. Sustained break there will pave the way to retest 0.8756 low. On the upside, however, break of 0.9180 will turn bias back to the upside for stronger 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 at a later stage.

Daily Pivots: (S1) 0.9057; (P) 0.9072; (R1) 0.9099; More….

Intraday bias in USD/CHF remains neutral at this point. Further decline is in favor as long as 55 4H EMA (now at 0.9083) holds. On the downside, break of 0.9005 and sustained trading below 55 D EMA (now at 0.9010) will bring deeper fall to 38.2% retracement of 0.8332 to 0.9223 at 0.8883. However, firm break of 55 4H EMA will suggest that the pull back from 0.9223 has completed, and bring stronger rebound to retest 0.9223 high.

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) 0.8893; (P) 0.8909; (R1) 0.8920; More….

Deeper decline is still in favor in USD/CHF with 0.8939 minor resistance intact. Break of 0.8837 will target a test on 0.8756 low. On the upside, though, break of 0.8939 minor resistance will turn bias back to the upside, and could extend the corrective rise from 0.8756 through 0.9044.

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) 0.9040; (P) 0.9074; (R1) 0.9139; More….

Intraday bias in USD/CHF stays on the upside at this point. Sustained trading above 0.9086 resistance will pave the way back to 0.9342 resistance next. On the downside, below 0.9007 minor support will turn intraday bias neutral first.

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.