Daily Pivots: (S1) 0.9116; (P) 0.9130; (R1) 0.9147; More….

USD/CHF’s fall from 0.9157 accelerates lower today, and the development suggests that rebound from 0.8987 has completed already. Fall from 0.9157 is now seen as the third leg of the pattern from 0.9223. Intraday bias is back on the downside for 0.8987 support first. Break will target 100% projection of 0.9223 to 0.8987 from 0.9157 at 0.8921. On the upside, above 0.8904 minor resistance will turn intraday bias neutral first.

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) 0.8932; (P) 0.8952; (R1) 0.8978; More….

While downside momentum is a bit unconvincing as seen in 4 hour MACD, the break of 0.8929 support still suggest resumption of whole decline from 0.9471. Intraday is back on the downside for retesting 0.8756 low. On the upside, break of 0.9052 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

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 far 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) 0.9078; (P) 0.9101; (R1) 0.9114; More…

USD/CHF is still staying in consolidation from 0.9050 and intraday bias remains neutral. 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) 0.8717; (P) 0.8758; (R1) 0.8783; More….

Intraday bias in USD/CHF remains neutral for the moment. Near term outlook stays bearish for now, with 0.8818 support turned resistance intact. 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.

Daily Pivots: (S1) 0.9986; (P) 0.9999; (R1) 1.0017; More…

Intraday bias in USD/CHF remains neutral at this point. 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) 0.9693; (P) 0.9721; (R1) 0.9763; More…

No change in USD/CHF’s outlook as it’s staying in range of 0.9613/9766. Further decline is expected with 0.9766 resistance intact. On the downside, decisive break of 0.9613 will resume whole down trend from 1.0237. Next target is 100% projection of 1.0237 to 0.9659 from 1.0023 at 0.9445. However, break of 0.9766 will indicate short term reversal and bring stronger rebound.

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) 0.9567; (P) 0.9613; (R1) 0.9642; More…

Intraday bias in USD/CHF stays on the downside at this point. Fall from 0.9884 is seen as a falling leg of the consolidation from 1.0063. Deeper decline would be seen to 0.9493 support. On the upside, though, above 0.9738 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. On resumption, 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) 0.9948; (P) 0.9971; (R1) 1.0003; More….

USD/CHF’s rise break of 0.9994 resistance suggests that rise from 0.9716 has resumed. Intraday bias is back on the upside. Outlook is unchanged that corrective decline from 1.0128 should have completed at 0.9716 already, after hitting trend line support. Further rally should now be seen back to retest 1.0128. On the downside, break of 0.9908 is needed to indicate completion of the rebound. Otherwise, outlook will stay cautiously bullish in case of retreat.

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) 0.9028; (P) 0.9045; (R1) 0.9062; More…

USD/CHF retreated again after edging higher to 0.9083. Intraday bias stays neutral for the moment. Further rally is in favor as long as 0.8939 support holds. On the upside, sustained trading above 55 D EMA (now at 0.9039) should confirm that current rally is at least correcting whole down trend from 1.0146. Further rise should then be seen to 38.2% retracement of 1.0146 to 0.8818 at 0.9325. On the downside, though, break of 0.8939 will bring retest of 0.8818 low 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). 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) 0.9040; (P) 0.9074; (R1) 0.9139; More….

Despite current retreat, intraday bias in USD/CHF stays on the upside first. Sustained trading above 0.9086 resistance will pave the way back to 0.9342 resistance next. In any case, further rally will remain in favor as long as 0.9007 support holds. But firm break of 0.9007 will turn bias to the downside for 0.8886 support instead.

In the bigger picture, outlook is mixed up by the deeper than expected pull back from 0.9243. Yet there was no follow through selling after hitting 0.8886. On the upside, break of 0.9243 resistance will revive the case of medium term bottoming at 0.8851, and turn outlook bullish. However, sustained break of 61.8% retracement of 0.8551 to 0.9243 at 0.8815 will argue that larger decline from 1.0146 is ready to resume through 0.8551 low.

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

Intraday bias in USD/CHF remains on the upside despite slight retreat from 0.9697. Current rally from 0.9186 should target 0.9900 fibonacci level next. On the downside, break of 0.9576 minor support is needed to be the first sign of short term topping. Otherwise, outlook will remain bullish in case of deeper retreat.

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.

USD/CHF edged lower to 0.9691 last week but turned sideway since then. Initial bias remains neutral this week first. Consolidation from 0.9691 could extend and stronger recovery cannot be ruled out. But upside should be limited by 0.9858 support turned resistance and bring fall resumption. Whole decline from 1.0342 is still in progress and below 0.9691 will target 100% projection of 1.0342 to 0.9860 from 1.0099 at 0.9617. We’ll start to look for reversal signal below there.

In the bigger picture, USD/CHF is 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.

Daily Pivots: (S1) 0.9961; (P) 0.9996; (R1) 1.0047; More…

Range trading continues in USD/CHF and intraday bias stays neutral first. Deeper retreat cannot be ruled out, but downside should be contained above 0.9799 support. On the upside, break of 1.0146 will resume larger up trend to 1.0283 projection level.

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 0.9779 support holds, even in case of deep pull back.

Daily Pivots: (S1) 0.8602; (P) 0.8622; (R1) 0.8639; More….

Intraday bias in USD/CHF remains neutral and outlook is unchanged. On the downside, below 0.8605 will resume the pull back from 0.8727 to 0.8487 support. Break there will argue that rebound from 0.8332 has completed, and bring retest of this low. On the upside, firm break of 0.8727 will resume the rebound to 61.8% retracement of 0.9243 to 0.8332 at 0.8995 instead.

In the bigger picture, while rebound from 0.8332 could be strong, there is no clear sign of medium term bottoming yet. This rebound is tentatively seen as a corrective move for now. Also, outlook will stay bearish as long as 0.9243 resistance holds. Larger down trend from 1.0146 (2022 high) should resume through 0.8332 low at a later stage.

Daily Pivots: (S1) 0.9062; (P) 0.9080; (R1) 0.9110; More….

Intraday bias in USD/CHF remains neutral at this point. On the upside, firm break of 0.9101 will argue that corrective fall from 0.9223 has completed with three waves down to 0.8987 already. Further rise should then be seen to retest 0.9223. On the downside, though, break of 0.8987 will resume the fall to 38.2% retracement of 0.8332 to 0.9223 at 0.8883.

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) 0.9153; (P) 0.9177; (R1) 0.9211; More….

USD/CHF weakens after failing to sustain above 4 hour 55 EMA, but downside is contained well above 0.9129 support. Intraday bias remains neutral first. Risk is mildly on the downside with 0.9273 resistance intact. On the downside, sustained trading below 55 day EMA (now at 0.9126) will affirm the case that rebound from 0.8925 has completed at 0.9273. Deeper fall would then be seen back to retest 0.8925 low. On the upside though, break of 0.9273 and sustained trading above 61.8% retracement of 0.9471 to 0.8925 at 0.9262 will target 0.9471 resistance next.

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) 0.9921; (P) 0.9943; (R1) 0.9982; More…

USD/CHF rises to as high as 0.9994 so far today. The breach of 0.9991 resistance, with solid upside momentum as seen in 4 hour MACD, suggests an upside breakout. Intraday bias is cautiously on the upside for 1.0056 high next. Decisive break there will resume whole rally from 0.9186 for 1.0342 key resistance level. On the downside, however, below 0.9946 will dampen the bullish case and turn intraday bias neutral again. In that case, the corrective pattern from 1.0056 could extend with another falling leg through 0.9856 support before completion.

In the bigger picture, rise from 0.9186 is seen as a leg inside the long term range pattern. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds. Above 1.0056 will target 1.0342 (2016 high). In that case, we’d be cautious on strong resistance from 1.0342 to limit upside. However, sustained break of 0.9724 will dampen this bullish view and would at least bring deeper fall to 61.8% retracement at 0.9518.

Daily Pivots: (S1) 0.9552; (P) 0.9643; (R1) 0.9693; More…..

Break of 0.9613 support indicates resumption of whole fall from 1.0342. Intraday bias in USD/CAD is turned back to the downside for 0.9548 support and below. We’d start to look for bottoming signal again as it approaches 0.9443 key support level. But still, break of 0.9770 resistance is ended to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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) 0.9335; (P) 0.9348; (R1) 0.9372; More….

Focus is immediately on 0.9248 support with today’s sharp fall. break will confirm short term topping and bring deeper fall back to 0.9084 support. Firm break there will indicate completion of whole choppy rise from 0.8925. On the upside, though, break of 0.9372 will resume the rise towards 0.9471 key resistance.

In the bigger picture, as long as 0.9471 resistance holds, larger down trend from 1.0237 (2018 high) could still extend through 0.8756 low. However, sustained break of 0.9471 will revive the case of medium term bullish reversal. In this case, we’d assess the change of retesting 1.0342 high at a later stage, by looking at the upside momentum first.

Daily Pivots: (S1) 0.9727; (P) 0.9762; (R1) 0.9803; More…

Intraday bias in USD/CHF stays on the upside for the moment. Consolidation pattern from 1.0063 should have completed with three waves down to 0.9493 already. Further rally would be seen to retest 1.0063 high first. Decisive break there will resume larger up trend. On the downside, break of 0.9670 minor support will dampen this bullish view and turn intraday bias neutral first.

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.