Daily Pivots: (S1) 0.8498; (P) 0.8518; (R1) 0.8528; More….

USD/CHF is extending the consolidation above 0.8332 and intraday bias remains neutral. Also, outlook stays bearish as long as 0.8665 support turned resistance holds. On the downside, break of 0.8332 will resume larger fall from 0.9243 to 0.8257 projection level.

In the bigger picture, down trend from 1.0146 (2022 high) is in progress. Next target is 61.8% retracement of 1.0146 to 0.8551 from 0.9243 at 0.8257. Sustained break there could prompt downside acceleration to 100% projection at 0.7648. This will now remain the favored case as long as 0.8819 resistance holds.

Daily Pivots: (S1) 0.9736; (P) 0.9773; (R1) 0.9801; More…..

Intraday bias in USD/CHF remains on the downside and current decline should target 38.2% retracement of 0.9186 to 1.0056 at 0.9724. At this point, we’re still view price actions from 1.0056 as a consolidation pattern. Thus, downside should be contained by 0.9724 to bring rebound. Nonetheless, break of 0.9865 resistance is needed to indicate short term bottoming. Otherwise, further decline will remain in favor even in case of recovery. Meanwhile, sustained break of 0.9724 will carry larger bearish implications.

In the bigger picture, current development suggests that the consolidation pattern from 1.0056 is extending. 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 38.2% retracement of 0.9186 to 1.0056 at 0.9724 will at least bring deeper fall to 61.8% retracement at 0.9518 before completion.

Daily Pivots: (S1) 0.9893; (P) 0.9939; (R1) 0.9977; More…

Intraday bias in USD/CHF remains neutral for the moment. On the upside, decisive break of 0.9975 will confirm completion of fall form 1.0237. Further rally would then be seen to retest this high. On the downside, though, break of 0.9854 will turn intraday bias to the downside for 0.9659 low.

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.

Daily Pivots: (S1) 0.9783; (P) 0.9813; (R1) 0.9831; More…

Further decline is expected in USD/CHF with 0.9876 resistance intact, Current fall from 1.0023 should target test on 0.9659 low. However, considering bullish convergence condition in 4 hour MACD, break of 0.9876 will indicate short term bottoming. In such case, intraday bias will be turned back to the upside for 55 day EMA (now at 0.9899) and above.

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) 0.9913; (P) 0.9929; (R1) 0.9951; More…

Intraday bias in USD/CHF remains neutral at this point. On the downside, break of 0.9855 will extend the corrective pattern from 1.0056 with another fall. Intraday bias would be turned to the downside for 0.9787 and below. But downside should be contained by 38.2% retracement of 0.9186 to 1.0056 at 0.9724 to bring rebound. On the upside, firm break of 0.9991 will target a test on 1.0056 high.

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) 0.8901; (P) 0.8950; (R1) 0.8979; More…

USD/CHF is still bounded in range above 0.8900 temporary low and intraday bias stays neutral. Further decline is expected as long as 0.9000 resistance holds. Break of 0.8900 will target 0.8818 and possibly below. But strong support is still expected from 0.8756 to bring reversal. Meanwhile, above 0.9000 will turn bias back to the upside for 0.9146 resistance 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), which might have completed at 0.8818 already, just ahead of 0.8756 long term support. Sustained trading above 0.9058 support turned resistance should confirm medium term bottoming.

Daily Pivots: (S1) 1.0004; (P) 1.0016; (R1) 1.0039; More…..

USD/CHF’s rebound from 0.9812 is still in progress and intraday bias remains on the upside. The corrective fall from 1.0342 should have finished with three waves down to 0.9812 already. Sustained trading above 55 day EMA (now at 1.0022) will affirm this bullish case. Break of 1.0169 resistance will confirm and target a test on 1.0342 high. On the downside, however, below 0.9948 minor support will turn bias back to the downside for 0.9812 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.

Daily Pivots: (S1) 0.9785; (P) 0.9838; (R1) 0.9868; More…

Intraday bias in USD/CHF remains mildly on the downside for retesting 0.9695 low. Firm break there will resume larger fall from 1.0237. On the upside, break of 0.9908 resistance will likely resume the rebound from 0.9695, through 0.9951, to 1.0014 resistance.

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) 0.9061; (P) 0.9078; (R1) 0.9100; More….

Intraday bias in USD/CHF remains neutral as consolidation from 0.9005 is extending. Further decline is in favor as long as 55 4H EMA (now at 0.9099) holds. On the downside, break of 0.9005 and sustained trading below 55 D EMA (now at 0.9000) will bring deeper fall to 38.2% retracement of 0.8332 to 0.9223 at 0.8883. However, firm break of 55 4H EMA will suggest that the pull back has completed, and bring stronger rebound to retest 0.9223 high.

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) 0.8946; (P) 0.8971; (R1) 0.8985; More….

Intraday bias in USD/CHF remains mildly on the upside at this point. Further rise could be seen to 0.9044 first. Corrective pattern from 0.8756 is extending with another rising leg. Break of 0.9044 will target 100% projection of 0.8756 to 0.9044 from 0.8869 at 0.9127 next. For now, risk will be on the upside as long as 0.8869 support holds.

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) 0.9698; (P) 0.9727; (R1) 0.9778; More…..

Despite the strong rebound from 0.9640, USD/CHF is still held below 0.9766 resistance. Intraday bias remains neutral first. On the upside, break 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.

Daily Pivots: (S1) 0.9141; (P) 0.9167; (R1) 0.9205; More….

USD/CHF rises mildly in early US session, but stays in range of 0.9098/9241. Intraday bias remains neutral first. On the upside, break of 0.9241 resistance should resume the rise from 0.8925 through 0.9273. On the downside, break of 0.9098 will target 0.9017 support first. Further break there will likely resume the decline from 0.9471 through 0.8925 low.

In the bigger picture, the failure to sustain above 55 week EMA (now at 0.9180) retains medium term bearishness in USD/CHF. Break of 0.8925 support should resume the whole decline form 1.0342 (2016 high) through 0.8756 low. However, break of 0.9273 resistance and sustained trading above 55 week EMA will be an early sign of bullish trend reversal. Focus will then turn to 0.9471 resistance for confirmation.

Daily Pivots: (S1) 0.9340; (P) 0.9354; (R1) 0.9372; More….

Intraday bias in USD/CHF remains on the upside at this point. Current rise from 0.8756 is in progress for 61.8% retracement of 0.9901 to 0.8756 at 0.9464. Break there will target 0.9901 resistance next. On the downside, break of 0.9212 support is needed to confirm short term topping. Otherwise, outlook will stay mildly bullish in case of retreat.

In the bigger picture, fall from 1.0237 should have 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) 0.9207; (P) 0.9253; (R1) 0.9290; More…

Intraday bias in USD/CHF stays mildly on the downside, as fall from 1.0146 is in progress for is 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) 0.9963; (P) 0.9978; (R1) 1.0003; More…

USD/CHF’s recovery from 0.9908 is still in progress but upside is limited below 1.0006 minor resistance. Intraday bias stays neutral first. On the upside, break of 1.0006 minor support will argue that the pull back from 1.0128 has completed. Intraday bias will be turned back to the upside for retesting 1.1028. However, on the downside, break of 38.2% retracement of 0.9541 to 1.0128 at 0.9904 will target 0.9848 key support level.

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) 0.9824; (P) 0.9872; (R1) 0.9949; More…

USD/CHF is still staying in range of 0.9789/9963 and intraday bias remains neutral first. At this point, with 0.9963 resistance intact, another decline is mildly in favor. Below 0.9789 will target 0.9765/8 (61.8% retracement of 0.9541 to 1.0128 at 0.9765, 38.2% retracement of 0.9186 to 1.0128 at 0.9768). We’ll look for bottoming signal again there. On the upside, break of 0.9963 will suggests that the pull back from 1.0128 has completed and will turn bias back to the upside for this resistance.

In the bigger picture, the deeper than expected fall form 1.0128 argues that medium term rally from 0.9186 might have completed at 1.0128 already, on bearish divergence condition in daily and weekly MACD. Break of 0.9541 key support will confirm this bearish case. More importantly, the corrective three wave structure will in turn argue that long term corrective pattern from 1.0342 (2016 high) is extending. In that case, 0.9186 will be the next target.

Daily Pivots: (S1) 0.9287; (P) 0.9311; (R1) 0.9355; More….

USD/CHF’s rise from 0.9084 resumes by breaking 0.9328. Intraday bias is back on the upside for 0.9367 resistance. Break there will resume whole choppy rise form 0.8925 to 0.9471 key resistance. On the downside, break of 0.9248 support is needed to indicate near term topping. Otherwise, further rally will remain in favor in case of retreat.

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) 0.9895; (P) 0.9913; (R1) 0.9938; More…

Focus remains on 0.9929 resistance. Firm break will resume the choppy rise from 0.9659 to 0.9975 resistance next. On the downside, break of 0.9798 will revive the case that recovery from 0.9659 has completed at 0.9929. Further fall should then be seen to 0.9713 support.

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.

Daily Pivots: (S1) 0.9575; (P) 0.9640; (R1) 0.9679; More…

Intraday bias in USD/CHF remains on the downside. 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) 0.9986; (P) 0.9996; (R1) 1.0012; More….

Intraday bias in USD/CHF stays neutral at this point as consolidation from 1.0037 is extending. In case of deeper retreat, downside should be contained above 0.9835 resistance turned support and bring rally resumption. On the upside break of 1.0037 will resume whole rally from 0.9420. And with sustained trading above 61.8% retracement of 1.0342 to 0.9420 at 0.9990, USD/CHF should then target a test on 1.0342 key resistance.

In the bigger picture, current development suggests that USD/CHF has defended 0.9443 (2016 low) key support level again. Rise from 0.9420 could is a medium term up move and should target a test on 1.0342 high. This represents the upper end of a long term range that started back in 2015. On the downside, break of 0.9736 support is now needed to indicate completion of the rise from 0.9420. Otherwise, further rally will remain in favor in medium term.