Daily Pivots: (S1) 0.9700; (P) 0.9715; (R1) 0.9732; More…

Intraday bias in USD/CHF remains neutral for the moment and outlook is unchanged. Corrective pattern from 0.9901 might still extend further. Break of 0.9665 minor support will turn bias to the downside for 0.9588 support and possibly below. But overall, downside 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) 0.9465; (P) 0.9506; (R1) 0.9532; More…

USD/CHF failed to sustain above 4 hour 55 EMA and retreated. Intraday bias is turned neutral first. On the downside, break of 0.9554 will resume the rebound from 0.9376 short term bottoming. Sustained trading above 55 day EMA (now at 0.9635) will pave the way back to 0.9901 resistance. Though, on the downside, break of 0.9376 will resume the fall from 0.9901 instead.

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) 0.9617; (P) 0.9652; (R1) 0.9675; More……

USD/CHF is still bounded in consolidation pattern from 0.9551 and intraday bias remains neutral for the moment. Outlook also stays bearish as long as 0.9777 resistance holds. Below 0.9620 minor support will turn bias back to the downside first. Further break of 0.9551 will extend the decline from 1.0342 to 0.94443 key support level. At this point, we’d expect strong support from there to bring rebound. Meanwhile, break of 0.9777 will now indicate short term reversal, on bullish convergence condition in 4 hour MACD.

In the bigger picture, USD/CHF is still 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. However, sustained break of 0.9443 will carry larger bearish implication and target 0.9 handle.

USD/CHF’s break of 0.8998 low last week confirms resumption of medium term down trend. Initial bias remains on the downside this week. Next target is 100% projection of 0.9304 to 0.9030 from 0.9207 at 0.8933. On the upside, break of 0.9101 minor resistance mix up the near term outlook and turn intraday bias neutral again.

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 should confirm medium term bottoming and turn outlook bullish.

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

Daily Pivots: (S1) 0.9107; (P) 0.9147; (R1) 0.9219; More….

Intraday bias in USD/CHF remains on the upside for the moment. Rise from 0.8925 short term bottom should target 61.8% retracement of 0.9471 to 0.8925 at 0.9262 next. On the downside, below 0.9131 minor support will turn intraday bias neutral, and bring consolidations first, before staging another rally.

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 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) 1.0034; (P) 1.0063; (R1) 1.0093; More….

Intraday bias in USD/CHF remains neutral for consolidation below 1.0092 temporary top. Downside should be contained by 0.9988 support to bring another rally. On the upside, above 1.0092 will extend the rise from 0.9716 to 1.0128 resistance. Decisive break there will confirm resumption of up trend from 0.9186. Next target will be 100% projection of 0.9541 to 1.0128 from 0.9716 at 1.0303. Though, break of 0.9988 will indicate short term topping and bring deeper pull back.

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) 0.9637; (P) 0.9682; (R1) 0.9730; More…

With 0.9633 minor support intact, intraday bias in USD/CHF remains on the upside for further rise. Prior break of 0.9699 resistance suggests near term reversal after defending 0.9443 key support. Further rally should be seen to 38.2% retracement of 1.0342 to 0.9437 at 0.9783 first. Break will target channel resistance (now at 0.9899). On the downside, below 0.9633 minor support will turn intraday bias neutral and bring consolidations first.

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) 0.9868; (P) 0.9902; (R1) 0.9927; More…

Intraday bias is back on the downside in USD/CHF with focus on trend line support (now at 0.9865). Sustained trading below there will indicate that fall from 1.0056 is a larger scale correction, correcting rise from 0.9186. And deeper fall would be seen back to 0.9724 fibonacci level before completion. Though, rebound from current level, followed by break of 0.9982 minor resistance will bring retest of 1.0056 high.

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) 0.9980; (P) 1.0002; (R1) 1.0023; More…

Intraday bias in USD/CHF remains on the upside with 0.9980 minor support intact. Firm break of 1.0027 resistance will confirm resumption of later rally from 0.9659. Further rise should then be seen to 61.8% projection of 0.9659 to 1.0027 from 0.9869 at 1.0095 next. On the downside, below 0.9980 minor support will delay the bullish case and turn intraday bias neutral first.

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) 0.9656; (P) 0.9685; (R1) 0.9703; More…

USD/CHF drops to as low as 0.9635 so far today. Break of 0.9646 support indicates resumption of larger down trend from 1.0237. Intraday bias is back on the downside for 100% projection of 1.0237 to 0.9659 from 1.0023 at 0.9445. On the upside, break of 0.9762 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish 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.

Daily Pivots: (S1) 0.9669; (P) 0.9698; (R1) 0.9726; More…

Intraday bias in USD/CHF remains neutral as range trading continues. On the downside, break of 0.9592 will bring deeper decline. 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 0.9797 will bring retest of 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.

USD/CHF’s corrective rebound from 0.9613 should have completed at 0.9766 after rejection from 0.9762 resistance last week. Initial bias remains on the downside this week for 0.9613 first. Break will resume larger fall from 1.0237 to 100% projection of 1.0237 to 0.9659 from 1.0023 at 0.9445. Near term outlook will now remain bearish as long as 0.9766 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.

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) 0.9952; (P) 0.9976; (R1) 1.0017; More…

No change in USD/CHF’s outlook. It continues to lose upside momentum as seen in 4 hour MACD. However, with 0.9919 minor support intact, intraday bias stays on the upside for 1.0037 resistance. Decisive break there will extend the whole rally from 0.9186 towards 1.0342 key resistance On the downside, though, below 0.9919 will indicate short term topping. And, in that case, lengthier consolidation would be seen before another rally.

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.

Daily Pivots: (S1) 0.9172; (P) 0.9213; (R1) 0.9235; More….

Range trading continues in USD/CHF and intraday bias remains neutral first. On the downside, below 0.9156 will target 0.9084 support. Firm break there should confirm that choppy rise from 0.8925 has completed, and suggests that fall from 0.9471 is resuming. Deeper decline would be seen through 0.8925. On the upside, break of 0.9293 will suggest that the pull back from 0.9372 is finished. Intraday bias will be turned back to the upside for 0.9372.

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) 0.9712; (P) 0.9765; (R1) 0.9800; More…

USD/CHF’s decline accelerates to as low as 0.9708 so far and intraday bias stays on the downside. Current fall form 1.0023 should target 0.9659 support next. On the upside, above 0.9753 minor resistance will turn intraday bias neutral and bring consolidation first, before staging another decline.

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) 0.8790; (P) 0.8871; (R1) 0.8915; More…

Intraday bias in USD/CHF stays on the downside as this point. Breach of 0.8825 support indicates that whole fall from 0.9223 is resuming. Deeper decline would be seen to 60% retracement of 0.8332 to 0.9223 at 0.8672 next. On the upside, above 0.8914 support turned resistance will turn intraday bias neutral first.

In the bigger picture, with 0.9243 resistance intact, medium term outlook in USD/CHF is neutral at best. For now, more sideway trading is likely between 0.8332/9243. However, firm break of 0.9243 will indicate larger bullish trend reversal.

Daily Pivots: (S1) 0.9095; (P) 0.9134; (R1) 0.9161; More….

Intraday bias in USD/CHF remains neutral as range trading continues. 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) 0.9899; (P) 0.9958; (R1) 0.9999; More…

USD/CHF drops to as low as 0.9830 so far today and break of 0.9854 support confirms resumption of fall from 1.0237. Rejection by 55 day was also a clear near term bearish signal. Intraday bias remains on the downside for 0.9716 support next. On the upside, break of 0.9897 minor resistance will turn intraday bias neutral and bring consolidations. But recovery should be limited well below 1.0014 resistance to bring fall resumption.

In the bigger picture, USD/CHF’s break of long term trend line support is the first indication of medium term reversal. That is, rise from 0.9186 (2018 low) could have completed at 1.0237 already). Sustained break of 38.2% retracement of 0.9186 to 1.0237 at 0.9836 will confirm and target 61.8% retracement at 0.9587. However, strong rebound from 0.9836 will revive medium term bullishness for 1.0237 and above.

Daily Pivots: (S1) 0.8831; (P) 0.8847; (R1) 0.8860; More….

USD/CHF’s break of 0.8874 resistance confirms resumption of rebound from 0.8551. Intraday bias is back on the upside. Further rally should be seen to 0.9146 cluster resistance. On the upside, below 0.8831 minor support will turn intraday bias neutral first. But risk will stay on the upside as long as 0.8743 support holds.

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.

Daily Pivots: (S1) 0.8950; (P) 0.8972; (R1) 0.8998; More….

Intraday bias in USD/CHF remains on the upside at this point. Decisive break of 0.8898 support turned resistance will indicate that rise from 0.8756 short term bottom is at least correcting the fall from 0.9901. Further rally would be seen to 38.2% retracement of 0.9901 to 0.8756 at 0.9193. On the downside, break of 0.8925 resistance turned support will turn intraday bias to the downside for 0.8837 support 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.