Daily Pivots: (S1) 0.9890; (P) 0.9903; (R1) 0.9919; More…

Intraday bias in USD/CHF remains neutral as it fails to sustain above 0.9904 resistance so far. On the downside, sustained break of 0.9843 support will indicate that choppy rebound from 0.9659 has completed at 1.0027. Deeper fall should be seen to 0.9659 support and below. On the upside, firm break of 0.9904 minor resistance will turn focus back to 1.0027 instead.

In the bigger picture, corrective fall from 1.0237 should have completed at 0.9659 already, ahead of 61.8% retracement of 0.9186 to 1.0237 at 0.9587. But decisive break of 1.0237 is needed to indicate up trend resumption. Otherwise, medium term outlook will stay neutral first. Meanwhile, break of 0.9695 support will extend the correction to 0.9541 support instead.

Daily Pivots: (S1) 0.9826; (P) 0.9859; (R1) 0.9876; More…

Intraday bias in USD/CHF remains on the downside, with focus on 0.9843 support. Sustained break there will indicate that choppy rebound from 0.9659 has completed at 1.0027. Deeper fall should be seen to 0.9659 support and below. On the upside, above 0.9904 minor resistance will turn focus back to 1.0027 instead.

In the bigger picture, corrective fall from 1.0237 should have completed at 0.9659 already, ahead of 61.8% retracement of 0.9186 to 1.0237 at 0.9587. But decisive break of 1.0237 is needed to indicate up trend resumption. Otherwise, medium term outlook will stay neutral first. Meanwhile, break of 0.9695 support will extend the correction to 0.9541 support instead.

USD/CHF rebounded further to 0.8804 last week but failed to break through 0.8818 resistance. Initial bias remains neutral this week first. On the downside break of 0.8663 minor support should confirm rejection by 0.8818 and turn intraday bias back to the downside for retesting 0.8551 first. Nevertheless, decisive break of 0.8818 will carry larger bullish implication, and target 0.9146 cluster resistance next.

In the bigger picture, down trend from 1.0146 is seen as in progress as long as 0.8188 support turned resistance holds. Next target is 61.8% retracement of 0.7065 (2011 low) to 1.0342 (2016 high) at 0.8317. However, sustained break of 0.8818 should indicate medium term bottoming, and bring stronger rise back to 0.9146 cluster resistance (38.2% retracement of 1.0146 to 0.8551 at 0.9160), even as a correction.

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. Sustained break of 61.8% retracement of 0.7065 (2011 low) to 1.0342 (2016 high) at 0.8317 will bring retest of 0.7065 low.

Daily Pivots: (S1) 0.9630; (P) 0.9657; (R1) 0.9682; More…

USD/CHF is staying in consolidation below 0.9726 and intraday bias remains neutral. Another rise is expected as long as 0.9594 support holds. Prior break of 0.9699 resistance suggests near term reversal after defending 0.9443 key support. Above 0.9726 will target 38.2% retracement of 1.0342 to 0.9437 at 0.9783 first. Break will target channel resistance (now at 0.9899). However, firm break of 0.9594 will dampen this bullish view and turn bias back to the downside for 0.9437.

In the bigger picture, current development argues that USD/CHF has successfully defended 0.9443 key support level. And long term range trading in 0.9443/1.0342 is extending with another rise. At this point, there is no sign of an up trend yet. Hence, while further rise is expected in USD/CHF, we’ll start to be cautious on loss of momentum above 61.8% retracement of 1.0342 to 0.9437 at 0.9996.

Daily Pivots: (S1) 0.9783; (P) 0.9813; (R1) 0.9831; More…

Intraday bias in USD/CHF remains mildly on the downside at this point. Current fall from 1.0023 should target test on 0.9659 low. However, considering bullish convergence condition in 4 hour MACD, break of 0.9876 will indicate short term bottoming. In such case, intraday bias will be turned back to the upside for 55 day EMA (now at 0.9899) and above.

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) 0.9287; (P) 0.9311; (R1) 0.9355; More….

Intraday bias in USD/CHF remains on the upside as rise from 0.9084 is in progress for 0.9367 resistance. Break there will resume whole choppy rise from 0.8925 to 0.9471 key resistance. On the downside, break of 0.9248 support is needed to indicate near term topping. Otherwise, further rally will remain in favor in case of retreat.

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) 0.9108; (P) 0.9125; (R1) 0.9155; More….

Intraday bias in USD/CHF remains neutral for consolidation above 0.9090 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) 0.9542; (P) 0.9591; (R1) 0.9625; More…

Intraday bias in USD/CHF remains neutral as range trading continues. On the upside, break of 0.9647 minor resistance will argue that consolidation pattern from 0.9901 has completed. Intraday bias will be turned back to the upside for 0.9784 resistance first. On the downside, break of 0.9541 will bring another fall, but downside should be contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound.

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) 0.9132; (P) 0.9176; (R1) 0.9203; More….

Intraday bias in USD/CHF is turned neutral as it recovered after hitting 0.9149. Overall outlook is unchanged that choppy sideway trading could continue. Choppy rise from 0.8925 would still be in favor to extend higher as long as 0.9090 support holds.

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) 1.0113; (P) 1.0163; (R1) 1.0203; More…..

USD/CHF drops sharply as correction from 1.0237 extends. Intraday bias is mildly on the downside or 55 day EMA (now at 1.0081). But downside should be contained there 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) 0.9095; (P) 0.9115; (R1) 0.9133; More….

Intraday bias in USD/CHF is turned neutral again as rebound from 0.9076 lost momentum quickly. On the upside, decisive break of 0.9192 resistance will be the first sign of bullish reversal and bring stronger rise to 0.9304 resistance for confirmation. On the downside, break of 0.9076 will target a test on 0.8982 low.

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) 0.9114; (P) 0.9136; (R1) 0.9164; More….

USD/CHF is still bounded in range of 0.9090/9276 and intraday bias remains neutral. 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) 0.9531; (P) 0.9575; (R1) 0.9608; More…

Intraday bias in USD/CHF remains neutral and outlook is unchanged. Fall from 1.0048 is still seen as the third leg of the consolidation pattern from 1.0063. Strong support should be seen around 0.9543 to bring rebound. On the upside, above 0.9731 minor resistance will turn bias back to the upside for retesting 1.0063 resistance. However, sustained break of 0.9543 will bring deeper fall back to 0.9459 resistance turned support.

In the bigger picture, down trend from 1.0342 (2016 high) should have completed with three waves down to 0.8756 (2021 low) already. Rise from 0.8756 is likely a medium term up trend of its own. Next target is 1.0237/0342 resistance zone. This will remain the favored case as long as 0.9471 resistance turned support holds. However, sustained break of 0.9471 will extend long term range trading with another falling leg.

Daily Pivots: (S1) 1.0062; (P) 1.0080; (R1) 1.0105; More…

USD/CHF is staying in consolidation from 1.0050 temporary low and intraday bias remains neutral first. Upside of recovery should be limited by 1.0126 minor resistance to bring another decline. On the downside, break of 1.0050 will resume the fall from 1.0237 to retest 0.9879 key support. However, firm break of 1.0126 will turn bias back to the upside for 1.0237 resistance.

In the bigger picture, as long as 0.9879 support holds, medium term up trend form 0.9186 is still in progress. Break of 1.0237 will 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. However, decisive break of 0.9879 will be a strong sign of medium term reversal. Focus will be turned back to 0.9716 support for confirmation.

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

USD/CHF dips notably but stays above 0.8900 support for now. Intraday bias stays neutral first while 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) 0.9966; (P) 0.9988; (R1) 1.0013; More…

Intraday bias in USD/CHF remains neutral first. Based on the structure of the fall from 1.0098, we’d treat it as a corrective pull back first. On the upside, break of 1.0014 minor resistance will suggest that the pull back is completed. Intraday bias will then be turned back to the upside for retesting 1.0098. On the downside, below 0.9926 will extend the corrective fall to 61.8% retracement of 0.9716 to 1.0098 at 0.9862. We’d look for bottoming signal again below there.

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) 0.9929; (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) 0.9901; (P) 0.9924; (R1) 0.9942; More….

USD/CHF is staying in consolidation from 0.9990 and intraday bias remains neutral. In case of deeper fall, downside should be contained by 0.9856 resistance turn support to bring another rally. As note before, corrective pull back from 1.0128 has completed at 0.9716 already. Above 0.9990 will extend the rise from 0.9716 to retest 1.0128 high.

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. Break of 0.9963 will affirm this bullish case. 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) 0.8952; (P) 0.8969; (R1) 0.8982; More….

USD/CHF is still bounded in range of 0.8880/8987 and intraday bias remains neutral. 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) 0.8843; (P) 0.8862; (R1) 0.8874; More….

USD/CHF’s down trend resumes by breaking 0.8851. Intraday bias is back on the downside. Next near term target is 61.8% projection of 0.9901 to 0.8998 from 0.9304 at 0.8746. On the upside, break of 0.8909 resistance will indicate short term bottoming, turn bias back to the upside for stronger rebound.

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 0.9304 resistance is needed to signal medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.