Daily Pivots: (S1) 0.9740; (P) 0.9765; (R1) 0.9799; More…

USD/CHF’s fall form 0.9884 is still in progress and intraday bias remains on the downside. Such decline is seen as a falling leg of the consolidation from 1.0063. Sustained trading below 55 day EMA (now at 0.9681) will target 0.9493 support again. On the upside, above 0.9788 minor resistance will turn bias back to the upside for 0.9884 resistance.

In the bigger picture, medium term up trend from 0.8756 (2021 low) is still in progress. Next target is 1.0342 (2016 high). Sustained break there will resume long term up trend from 0.7065 (2011 low). This will remain the favored case as long as 0.9471 resistance turned support holds.

Daily Pivots: (S1) 0.9571; (P) 0.9604; (R1) 0.9631; More…

Intraday bias in USD/CHF remains neutral as it’s staying in range of 0.9533/9648. On the downside, break of 0.9533 minor support should indicate rejection by 0.9626 key fibonacci resistance. Intraday bias would then be turned to the downside side for 0.9432 support. Further break there will turn near term outlook bearish for retesting 0.9186 low. On the upside, sustained trading above 0.9626 will be another evidence of larger reversal. In that case, further rally should be seen back to next fibonacci level at 0.9900.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. Main focus is on 38.2% retracement of 1.0342 (2016 high) to 0.9186 (2018 low) at 0.9626. Sustained break there will add 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.

Daily Pivots: (S1) 0.8921; (P) 0.8945; (R1) 0.8962; More….

Range trading continues in USD/CHF and intraday bias remains neutral. On the downside, sustained break of 0.8883 fibonacci level will carry larger bearish implications and bring deeper decline. 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.

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) 0.9101; (P) 0.9181; (R1) 0.9228; More….

No change in USD/CHF’s outlook. Intraday bias stays neutral with focus on 0.9141 support. Firm break there will argue that whole rebound from 0.8925 has completed. Intraday bias will be turned to the downside for 55 day EMA (now at 0.9121). Sustained break there will pave the way back to retest 0.8925 low. On the upside, though, break of 0.9273 will resume the rally to 0.9471 key resistance instead.

In the bigger picture, medium term outlook is currently neutral with focus on 0.9471 resistance. Sustained break there will indicate completion of whole decline from 1.0342 (2016 high). Medium term outlook will be turned bullish for a test on 1.0342 high. But, rejection by 0.9471 again will revive bearishness for another fall through 0.8756 low.

Daily Pivots: (S1) 0.8869; (P) 0.8894; (R1) 0.8912; More….

Intraday bias in USD/CHF remains neutral first as consolidation from 0.8822 might extend. Still, in case of another recovery, upside should be limited by 0.8982 resistance to bring fall resumption. On the downside, break of 0.8822 will resume larger down trend for 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) 1.0018; (P) 1.0033; (R1) 1.0056; More…

Intraday bias in USD/CHF remains neutral first. With 0.9977 minor support intact, further rise is in favor. Above 1.0046 will extend the rebound from 0.9879 and turn bias to the upside for 1.0124 resistance. However, as the structure of the rise is corrective looking, we’d expect strong resistance from 1.0124 to limit upside to bring another reversal. On the downside, below 0.9977 minor support will turn bias to the downside for 0.9879 support.

In the bigger picture, loss of upside momentum is seen is bearish divergence in daily MACD. But there is no clear sign of bearish reversal in USD/CHF yet. Rise fro 0.9186 is likely still in progress. Decisive break of 1.0128 resistance will resume this medium term rally to 1.0342 resistance next. This will remain the preferred case now, as long as 0.9716 support holds.

Daily Pivots: (S1) 0.9965; (P) 1.0026; (R1) 1.0062; More…

The break of 0.9952 support suggests short term topping in USD/CHF at 1.0128, on bearish divergence condition in 4 hour MACD. Intraday bias is turned to the downside for 38.2% retracement of 0.9541 to 1.0128 at 0.9904 first. Break will put 0.9848 structural support into focus. 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) 0.8874; (P) 0.8911; (R1) 0.8945; More….

Intraday bias in USD/CHF remains neural for consolidation above 0.8875 temporary low. In case of another recovery, upside should be limited by 0.8982 support turned resistance to bring another decline. On the downside, break of 0.8875 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) 0.9327; (P) 0.9379; (R1) 0.9422; More….

Intraday bias in USD/CHF remains neutral at this point. As long as 0.9318 support holds, further rally is still expected. On the upside, above 0.9459 will target 0.9471 resistance first. Break there will resume whole rally from 0.8756 to 61.8% projection of 0.8756 to 0.9471 from 0.9090 at 0.9532. However, break of 0.9318 will bring deeper pull back to 55 day EMA (now at 0.9242).

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) 0.9662; (P) 0.9688; (R1) 0.9730; More…

Intraday bias in USD/CHF remains neutral for the moment and outlook remains unchanged. Corrective pattern from 0.9901 is still in progress. Another fall cannot be ruled out and break of 0.9638 will target 0.9588 support and below. 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 0.9784 resistance 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.

USD/CHF’s rebound from 0.9193 extended higher last week but stayed below 0.9380 resistance. Initial bias remains neutral this week first. On the upside, firm break of 0.9380 should confirm that fall from 0.9459 has completed with three wave down to 0.9193. Such development will revive near term bullishness and turn bias back to the upside for 0.9459 and then 0.9471 resistance. On the downside, below 0.9280 minor support will turn bias to the downside for 0.9193 support next.

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.

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) 0.9227; (P) 0.9267; (R1) 0.9314; More….

Intraday bias in USD/CHF remains neutral first. Below 0.9212 will extend the correction from 0.9374 to 38.2% retracement of 0.8869 to 0.9374 at 0.9181. But outlook will stay bullish as long as 0.9044 resistance turned support holds. On the upside, above 0.9295 minor resistance will turn bias to the upside for retesting 0.9374 high.

In the bigger picture, current development argues that fall from 1.0237 has completed at 0.8756, on bullish 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. This will now remain the favored case as long as 0.9044 resistance turned support holds.

Daily Pivots: (S1) 0.9442; (P) 0.9469; (R1) 0.9493; More…

Intraday bias in USD/CHF remains neutral and outlook is unchanged. While rebound from 0.9186 might extend higher, we’d expect strong resistance from0.9626 key fibonacci level to limit upside. That’s supported by divergence condition in 4 hour MACD. On the downside, break of 0.9432 support will indicate near term reversal and completion of rebound from 0.9186. In this case, intraday bias will be turned back to the downside for retesting 0.9186 low. However, sustained break of 0.9626 will carry larger bullish implications.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. Main focus is on 38.2% retracement of 1.0342 (2016 high) to 0.9186 (2018 low) at 0.9626. Sustained break there will add 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.

Daily Pivots: (S1) 0.9173; (P) 0.9189; (R1) 0.9215; More….

Intraday bias in USD/CHF remains neutral for the moment and outlook is unchanged. On the downside, break of 0.9149 will turn focus to 0.9098 support. Break there will target further decline to 0.9017 support. On the upside, break of 0.9239/41 will target 0.9273 resistance instead.

In the bigger picture, USD/CHF is still struggling around 55 week EMA (now at 0.9178) and outlook is mixed for now. Confirmed rejection by the 55 week EMA will retain medium term bearishness. That is, larger fall from 1.0342 would resume through 0.8756 low at a later stage. However, sustained trading above 55 week EMA will tilt favor to the case of bullish reversal. Focus would then be turned to 0.9471 resistance for confirmation.

Daily Pivots: (S1) 0.9233; (P) 0.9268; (R1) 0.9290; More…

Intraday bias in USD/CHF remains on the downside as fall from 0.9901 is in progress. Deeper decline would be seen to 0.9181 low. We’ll look for bottoming around there. However, break of 0.9362 support turned resistance is needed to indicate short term bottoming. Otherwise, near term outlook will stay bearish in case of recovery.

In the bigger picture, USD/CHF is still staying in long term range pattern from 1.0342, (2016 high). While deeper fall could be seen, we do not expect a firm break of 0.9181/86 support zone (2018 and 2020 low). Hence, we’d look for bottoming signal as it approaches this zone. However, sustained break there will carry long term bearish implications for next key support at 0.8336.

USD/CHF’s rebound from 0.9659 extended higher last even though it continued to lose upside momentum, as seen bearish divergence condition in 4 hour MACD. Initial bias is neutral this week first. Further rise is in favor as long as 0.9798 support holds. Break of 0.9946 will target 0.9975 resistance first. But break o f0.9798 will turn bias to the downside for retesting 0.9659/9713 support zone instead.

In the bigger picture, the structure of the fall from 1.0237 suggests that it’s a corrective move. Break of 0.9975 will argue that such correction has completed at 0.9659, 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.

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) 0.9013; (P) 0.9051; (R1) 0.9124; More….

Intraday bias in USD/CHF remains on the upside at this point. Sustained trading above 38.2% retracement of 0.9471 to 0.8925 at 0.9134 will target 61.8% retracement at 0.9262. On the downside, below 0.9074 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) 0.9734; (P) 0.9771; (R1) 0.9814; More…

USD/CHF’s rally from 0.9369 is still in progress and intraday bias stays on the upside. Current rally should target 0.9884 resistance first. Break there will argue that larger up trend is ready for resumption through 1.0063. On the downside, break of 0.9576 support is needed to indicate completion of the rebound. Otherwise, further rise will remain in favor in case of retreat.

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) 0.9415; (P) 0.9454; (R1) 0.9489; More…

Intraday bias in USD/CHF remains on the downside for 0.9376 support. Firm break there will resume whole decline from 0.9901. Next downside target will be 100% projection of 0.9901 to 0.9502 from 0.9736 at 0.9337. On the upside, though, above 0.9493 minor resistance will argue that fall from 0.9554 is just a pull back and has completed. Intraday bias will be turned back to the upside for 0.9554 and above to resume the rebound from 0.9376.

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.

Daily Pivots: (S1) 0.9840; (P) 0.9867; (R1) 0.9919; More…

USD/CHF’s rally extends to as high as 0.9895 so far and intraday bias remains on the upside. Break of 0.9900 medium term fibonacci level will target 1.0037 resistance next. On the downside, below 0.9815 minor support will turn bias neutral and bring consolidations. But downside of retreat should be contained above 0.9648 resistance turned support to bring another rise.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. The break of 38.2% retracement of 1.0342 (2016 high) to 0.9186 (2018 low) at 0.9626 suggests that it’s likely completed at 0.9186 already. Further rally would be seen back to 61.8% retracement at 0.9900 and above. Sustained break there would pave the way to retest 1.0342 key resistance next. This will now be the preferred case as long as 0.9576 support holds.