USD/CHF dropped to as low as 0.9881 last week but lost momentum ahead of 0.9860 support and recovered. With a temporary low formed, some consolidations could be seen. But overall outlook is unchanged. That’s is, whole fall from 1.0342 is not completed yet and another decline is in favor through 0.9860.

Initial bias in USD/CHF stays neutral this week first. Deeper fall is expected as long as 1.0002 minor resistance holds. Break of 0.9860 will extend the fall from 1.0342 to 100% projection of 1.0342 to 0.9860 from 1.0169 at 0.9687 and possibly below. However, break of 1.0002 will argue that fall from 1.0169 is finished and will turn bias back to the upside for this resistance instead.

In the bigger picture, USD/CHF is staying in medium term sideway pattern between 0.9443/1.0342. 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.

Daily Pivots: (S1) 0.9395; (P) 0.9416; (R1) 0.9440; More…

Intraday bias in USD/CHF stays neutral first and more consolidative trading could be seen above 0.9362 temporary low. But still, further decline is expected as long as 0.9453 resistance holds. On the downside, break of 0.9362 will target 100% projection of 0.9901 to 0.9502 from 0.9736 at 0.9337. Sustained break there will pave the way to retest 0.9181 low. However, firm break of 0.9453 will turn bias back to the upside for 0.9532 resistance 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 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 up trend continued last week and there is no clear sign of topping. Initial bias stays on the upside this week. Next target is 1.0306 medium term fibonacci projection level. On the downside, considering bearish divergence condition in 4 hour MACD, break of 0.9871 support will indicate short term topping, and turn bias to the downside for pull back.

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 161.8% projection of 0.8756 to 0.9471 from 0.9149 at 1.0306, which is close to 1.0342 (2016 high). This will remain the favored case as long as 0.9459 resistance turned support holds.

In the long term picture, current development argues that the correction from 1.0342 (2016 high) has completed at 0.8756 (2020 low) already. Rise form 0.7065 (2011 low) might be ready to resume. Firm break of 1.0342 will confirm and target 38.2% retracement of 1.8305 (2000 high) to 0.7065 at 1.1359.

Daily Pivots: (S1) 0.9162; (P) 0.9191; (R1) 0.9212; More….

Range trading continues in USD/CHF and intraday bias stays neutral first. Choppy rise from 0.8925 would still be in favor to extend higher as long as 0.9090 support holds. Break of 0.9341 will target 0.9372 resistance and then 0.9471. On the downside, however, break of 0.9090 will bring deeper fall back to 0.8925 support.

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) 0.9812; (P) 0.9854; (R1) 0.9894; More…..

Intraday bias in USD/CHF remains on the downside for the moment. Current fall from 1.0342 should extend to 100% projection of 1.0342 to 0.9860 from 1.0169 at 0.9687 and possibly below. On the upside, break of 0.9959 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, USD/CHF is staying in medium term sideway pattern between 0.9443/1.0342. 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 deeper fall, we’d expect strong support from 0.9443/9548 support zone.

Daily Pivots: (S1) 0.9632; (P) 0.9664; (R1) 0.9688; More….

No change in USD/CHF’s outlook as it’s bounded in range of 0.9582/9772. Intraday bias remains neutral at this moment. On the upside, decisive break of 0.9772 resistance will revive the bullish case of reversal. That is, whole decline from 1.0342 has completed at 0.9437 after defending 0.9443 support. USD/CHF should then target channel resistance (now at 0.9849) next. Meanwhile, the pair is bounded inside medium term falling channel and limited below 38.2% retracement of 1.0342 to 0.9437 at 0.9783 for the moment. Break of 0.9582 will turn bias back to the downside for 0.9437. This could also extend the fall from 1.0342 through 0.9437/43 key support level.

In the bigger picture, we’re slightly favoring the case 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. However, firm break of 0.9443 will carry larger bearish implication and would target next key support at 0.9072.

Daily Pivots: (S1) 0.9698; (P) 0.9787; (R1) 0.9839; More…

Intraday bias in USD/CHF is turned neutral as it recovered quickly after initial dip. Further decline is expected as long as 0.9877 resistance holds. On the downside, break of 0.9659 will resume decline from 1.0237 to 0.9587 fibonacci level. However, break of 0.9877 will target 0.9975 resistance instead.

In the bigger picture, up trend from 0.9186 (2018 low) should have completed at 1.0237 already. Deeper decline would be seen to 61.8% retracement of 0.9186 to 1.0237 at 0.9587 and below. For now, USD/CHF is seen as in long term range pattern between 0.9186 and 1.0342. Hence, we’d pay attention to bottoming signal below 0.9587. Nevertheless, break of 0.9975 resistance is needed to indicate completion of the decline from 1.0237. Otherwise, risk will stay on the downside.

Daily Pivots: (S1) 0.8896; (P) 0.8909; (R1) 0.8933; More….

USD/CHF is staying in consolidation from 0.8885 temporary low and intraday bias remains neutral first. Upside of recovery should be limited by 0.8982 support turned resistance to bring another decline. On the downside, break of 0.8885 will target 61.8% projection of 0.9901 to 0.8998 from 0.9304 at 0.8746 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 0.9304 resistance is needed to signal medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 0.9583; (P) 0.9622; (R1) 0.9643; More……

Intraday bias in USD/CHF is turned neutral again with current recovery. Consolidation from 0.9551 might extend but upside should be limited by 0.9770 resistance to bring fall resumption. 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.

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.

Daily Pivots: (S1) 0.9698; (P) 0.9727; (R1) 0.9778; More…..

USD/CHF continues to stay in range below 0.9766 resistance and intraday bias remains neutral. On the upside, firm break of 0.9766 will argue that the fall from 1.0067 is finished. Intraday bias should then be turned back to the upside for 0.9866 support turned resistance for confirmation. On the downside, however, break of 0.9640 will resume the decline from 1.0067 for 0.9523 fibonacci level next.

In the bigger picture, current development suggests that 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 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 suggests that fall from 1.0067 has completed and rise from 0.9186 is resuming.

USD/CHF stayed in consolidation above 0.9090 last week and outlook is unchanged. Initial bias stays neutral this week 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.

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.

Daily Pivots: (S1) 0.9854; (P) 0.9906; (R1) 0.9934; More…

USD/CHF recovers strongly after hitting 0.9866, ahead of 0.9856 support. Intraday bias is turned neutral again. On the upside, above 0.9977 will bring retest of 1.0067 first. Decisive break there will resume larger rally from 0.9186. On the downside, below 0.9866 will extend the fall from 1.0067 through 0.9856 to 0.9787 support. As price actions from 1.0056 are seen as a corrective pattern, downside should be contained by 38.2% retracement of 0.9186 to 1.0056 at 0.9724 to bring rebound.

In the bigger picture, current development suggests that the consolidation pattern from 1.0056 is extending with another leg. As long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds, we’d expect rise from 0.9186 to resume at a later stage to retest 1.0342 key resistance (2016 high). However, sustained break of 0.9724 will bring deeper fall, as another declining leg in the long term range pattern.

USD/CHF’s recovery was capped at 0.9597 last week and fell after rejection by 4 hour 55 EMA. But downside was contained above 0.9355 support. Initial bias remains neutral this week first. On the downside, firm break of 0.9355 will resume the decline from 1.0146 to 0.9287 fibonacci level. Near term outlook stays bearish with 0.9680 minor resistance intact, in case of another 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. 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 55 day EMA (now at 0.9726) holds.

In the long term picture, long term sideway pattern from 1.0342 (2016 high) is extending and it’s probably in another medium term down leg. Downside will likely be contained by 0.8756 support in case of deeper fall. Overall, range trading should continue until further development.

Daily Pivots: (S1) 0.9745; (P) 0.9781; (R1) 0.9839; More…

Intraday bias in USD/CHF stays on the upside for the moment. Rise from 0.9543 should target a test on 1.0063 high. Firm break there will resume larger up trend. On the downside, below 0.9722 minor support will turn intraday bias neutral first.

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) 0.9969; (P) 0.9983; (R1) 1.0001; More…

Intraday bias in USD/CHF remains neutral as consolidation from 1.0027 is extending. Further rise is expected as long as 0.9843 support holds. On the upside, break of 1.0027 will target 78.6% retracement of 1.0237 to 0.9659 at 1.0113 next. Break will target retest on 1.0237 high.

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) 0.8906; (P) 0.8921; (R1) 0.8938; More….

Intraday bias in USD/CHF stays neutral, but further decline is still expected as long as 0.9000 resistance holds. Below 0.8901 will resume the fall from 0.9243 to 61.8% retracement of 0.8551 to 0.9243 at 0.8815 next. Sustained break there will pave the way to retest 0.8551 low. Nevertheless, break of 0.9000 will turn bias back to the upside for stronger rebound.

In the bigger picture, the firm break of 55 D EMA (now at 0.8974) argues that rebound from 0.8551 might be completed as a correction at 0.9243. In other words, larger fall from 1.0146 (2022 high) is possibly not over yet. Risk will now stay on the downside as long as 0.9243 resistance holds. Firm break of 0.8551 will confirm down trend resumption.

Daily Pivots: (S1) 0.8845; (P) 0.8910; (R1) 0.8960; More…

USD/CHF’s decline is still in progress and intraday bias stays on the downside. Current down trend from 1.0146 should target 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, above 0.0973 minor resistance will turn intraday bias neutral first.

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 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) 0.9784; (P) 0.9836; (R1) 0.9888; More…

USD/CHF is still extending the consolidation pattern form 0.9964 and intraday bias remains neutral. Outlook is unchanged that further rally is in favor as long as 0.9694 support holds. On the upside, above 0.9964 will resume the rally from 0.9369 to retest 1.0063 high. On the downside, however, break of 0.9694 support will extend the corrective pattern from 1.0063 with another falling leg, towards 0.9478 support first.

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) 0.9246; (P) 0.9264; (R1) 0.9282; More….

USD/CHF is still extending the consolidation from 0.9193 and intraday bias remains neutral first. Further decline is expected with 0.9380 resistance intact. On the downside, below 0.9193 will resume the decline from 0.9459 to 0.9149 support. Firm break there will turn near term outlook bearish for 0.9090 support and below. On the upside, above 0.9380 resistance will flip bias back to the upside for 0.9459 resistance 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.

USD/CHF edged higher to 1.0118 last week but retreated sharply since then. Initial bias is neutral this week for some more range trading first. Nonetheless, near term outlook stays cautiously bullish as long as 0.9929 minor support holds. Fall from 1.0342 could have finished at 0.9860 already. Above 1.0118 will turn bias back to the upside for retesting 1.0342. However, break of 0.9929 will likely extend the decline from 1.0342 through 0.9860 low.

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.

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