Daily Pivots: (S1) 0.9743; (P) 0.9817; (R1) 0.9923; More….

Intraday bias in USD/CHF remains on the upside at this point. Sustained trading above 0.9864 will pave the way to next target at 1.0342 high. For now, outlook will remain bullish as long as 0.9708 support holds, in case of retreat.

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 100% projection of 0.8756 to 0.9471 from 0.9149 at 0.9864. Sustained break there will pave the way back to 1.0342 high. This will now remain the favored case as long as 0.9459 resistance turned support holds.

Daily Pivots: (S1) 0.9306; (P) 0.9326; (R1) 0.9343; More…

USD/CHF is staying in sideway trading from 0.9214 and intraday bias remains neutral. Further decline is in favor with 0.9378 resistance intact. On the downside, break of 0.9214 will resume the fall and target 61.8% projection of 1.0146 to 0.9355 from 0.9545 at 0.9056. However, break of 0.9378 resistance will indicate short term bottoming and turn bias back to the upside for 0.9545 resistance instead.

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) 0.9938; (P) 0.9958; (R1) 0.9981; More….

USD/CHF’s consolidation from 0.9990 temporary top is in progress and intraday bias remains neutral. Deeper retreat might be seen. But downside should be contained above 0.9856 support to bring another rise. As noted before, correction from 1.0128 should have completed at 0.9716 already. On the upside, above 0.9990 will target a test on 1.0128 high next.

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

Daily Pivots: (S1) 0.9727; (P) 0.9743; (R1) 0.9765; More…

No change in USD/CHF’s outlook as intraday bias stays on the upside for 0.9082 resistance. Break will target a test on 0.9901 resistance. On the downside, below 0.9681 minor support will turn intraday bias neutral first. Overall, consolidation from 0.9901 is still in progress and could extend. But in case of another fall, downside should be contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to bring 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) 0.8864; (P) 0.8892; (R1) 0.8913; More….

No change in USD/CHF’s outlook as range trading continues below 0.8925 resistance. Intraday bias stays neutral first. On the upside, decisive break of 0.8925 resistance should confirm short term bottoming at 0.8756. Intraday bias will be turned back to the upside for 38.2% retracement of 0.9901 to 0.8756 at 0.9193. Though, break of 0.8821 minor support will retain near term bearishness. Intraday bias will be turned back to the downside for retesting 0.8756 low 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) 0.9538; (P) 0.9567; (R1) 0.9602; More…

USD/CHF’s fall resumes after brief consolidation and breaks 0.9515 temporary low. Intraday bias is back on the downside. Current decline from 1.0237 should target 100% projection of 1.0023 to 0.9613 from 0.9848 at 0.9438. On the upside, break of 0.9597 minor resistance will turn bias neutral and bring consolidation again.

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 rejection by 55 week EMA affirms bearishness. Such decline could target 0.9186 (2018 low) and below. 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) 0.9842; (P) 0.9878; (R1) 0.9914; More…

Intraday bias in USD/CHF remains neutral first. On the downside, break of 0.9825 will indicate that fall from 1.0056 is correcting whole rise from 0.9186. In that case, deeper decline would be seen to 0.9724 fibonacci level before completion. On the upside, above 0.9982 minor resistance will suggest that the pull back is finished and bring retest of 1.0056.

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) 0.9899; (P) 0.9925; (R1) 0.9964; More…..

USD/CHF’s break of 0.9951 indicates resumption of rebound from 0.9695. Intraday bias is turned back to the upside for 1.0014 resistance next. Sustained break there will pave the way to retest 1.0237 high. On the downside, break of 0.9884 minor support will turn bias back to the downside for 0.9803 support 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. However, sustained break of 1.0014 will revive medium term bullishness and turn focus back to 1.0237 high.

Daily Pivots: (S1) 0.9422; (P) 0.9472; (R1) 0.9506; More…

Intraday bias in USD/CHF remains on the downside for the moment. Sustained trading below 0.9443 key support will extend the down trend from 1.0342 to 161.8% projection of 1.0342 to 0.9860 from 1.0099 at 0.9319. On the upside, above 0.9521 minor resistance will turn bias neutral. But outlook will remain bearish as long as 0.9699 resistance holds.

In the bigger picture, focus is now back 0.9443 key support level. Sustained break there indicate underlying bearish momentum and would target 0.9 handle and possibly below. Meanwhile, strong rebound from current level and break 0.9699 resistance will extend long term range trading between 0.9443/1.0342.

Daily Pivots: (S1) 0.9078; (P) 0.9101; (R1) 0.9114; More…

Intraday bias in USD/CHF remains neutral as it’s staying in range above 0.9050. With 0.9241 resistance intact, further decline is expected. On the downside, break of 0.9050 will resume larger down trend. Nevertheless, on the upside, break of 0.9241 resistance will confirm short term bottoming and turn bias to the upside for 0.9376 support turned resistance.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). Current development suggests that such pattern is still extending. Sustain 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) 0.9949; (P) 0.9995; (R1) 1.0079; More…

Intraday bias in USD/CHF stays on the upside at this point. Firm break of 1.0146 will resume larger up trend. Next target is 1.0283 projection level. On the downside, below 1.0003 minor support will turn intraday bias neutral first. But outlook will stay bullish as long as 0.9840 support holds, in case of retreat.

In the bigger picture, current development suggests that up trend from 0.8756 (2021 low) is still in progress. Next target is 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 0.9779 support holds, even in case of deep pull back.

USD/CHF’s rebound from 0.8551 resumed last week and hit as high as 0.8943. But as a temporary top was then formed, initial bias stays neutral this week for some more consolidations. Downside of retreat should be contained above 0.8743 support to bring another rally. Break of 0.8943 will extend the rise to 0.9146 cluster resistance.

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.

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) 0.9199; (P) 0.9230; (R1) 0.9253; More….

Outlook in USD/CHF is unchanged as range trading continues. Intraday bias stays neutral first. Overall, further rally is mildly in favor as long as 0.9090 support holds. On the upside, break of 0.9372 will resume the choppy rally from 0.8925 to 0.9471 high. However, break of 0.9090 will turn bias back to the downside for 0.8925 support 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 the trend has already reversed and rebound the rally from 0.8756 with another impulsive move.

Daily Pivots: (S1) 0.9098; (P) 0.9137; (R1) 0.9160; More….

USD/CHF is staying in range above 0.9084 and intraday bias remains neutral. Further decline is expected as long as 0.9174 resistance holds. Break of 0.9084 will resume the fall from 0.9367 to 0.9017 support, and then 0.8925. On the upside, however, break of 0.9174 resistance will indicate short term bottoming and turn bias back to the upside for stronger rebound 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) 0.9939; (P) 0.9952; (R1) 0.9975; More…..

Intraday bias in USD/CHF remains neutral as it’s bounded in tight range above 0.9893 temporary low. With 0.9999 minor resistance intact, deeper decline is mildly in favor. Below 0.9893 will target 0.9812 and below to extend the correction from 1.0342. But break of 0.9812 should be brief and we will look for bottoming signal below there. On the upside, above 0.9999 minor resistance argues that fall from 1.0107 is finished, with bullish convergence condition in 4 hour MACD. In that case, intraday bias will be flipped back to the upside for 1.0107 resistance 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) 0.9061; (P) 0.9121; (R1) 0.9154; More….

Intraday bias in USD/CHF stays on the downside at this point. Current fall from 0.9471 should target 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, break of 0.9180 minor resistance will indicate short term bottoming and bring 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) 0.9986; (P) 0.9999; (R1) 1.0017; More…

Intraday bias in USD/CHF remains neutral for now and more consolidative trading could be seen. On the upside, sustained break of 1.0010 will suggest that pull back from 1.0124 has completed. Intraday bias will be turned back to the upside for 1.0124/28 resistance zone. However, break of 0.9953 minor support will indicate rejection by 1.0010 and turn bias to the downside for 0.9879. Break there will resume the fall from 1.0124 to 0.9716 key support.

In the bigger picture, focus is back on medium term trend line (now at 0.9865). Decisive break there will argue that whole rise from 0.9186 has completed. Further break of 0.9716 will confirm reversal and target next support level at 0.9541. Nevertheless, there is still a chance that price action from 1.0128 are forming a consolidative pattern with fall from 1.0124 as third leg. If this is the case, stronger support should be seen between 0.9716 and the trend line to contain downside.

Daily Pivots: (S1) 0.9585; (P) 0.9605; (R1) 0.9631; More…

Intraday bias in USD/CHF stays mildly on the downside as this point. Corrective pattern from 0.9901 is extending and deeper fall could be seen to 0.9502. 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 0.9736 resistance will turn bias back to the upside 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) 0.9263; (P) 0.9276; (R1) 0.9303; More….

Intraday bias in USD/CHF stays neutral for consolidation below 0.9328 first. On the upside, above 0.9328 will resume the rally from 0.9084 for 0.9367 resistance. On the downside, below 0.9236 minor support will turn intraday bias back to the downside for 0.9084 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.

USD/CHF’s rebound from 0.9186 extended higher last week after brief retreat. Initial bias is back on the upside this week for 0.9626 fibonacci level. On the downside, break of 0.9423 is needed to indicate completion of the rebound. Otherwise, outlook will remain bullish in case of retreat.

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.

In the long term picture, at this point, the long term decline from 1.0342 is still in favor to extend lower to 0.8698 key support. But sustained break of above mentioned 0.9626 will turn focus back to 1.0037/0342 resistance zone.