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Action Insight: USDCHF Technical Outlook

Action Insight is the most popular section of the site, read by traders around the world. Our team of analysts work around the clock, analyzing the markets from technical and fundamental perspectives in providing the reports in this section to you.



USD/CHF Weekly Outlook Print E-mail
USDCHF Outlook | Written by ActionForex.com | Mar 17 12 06:16 GMT
Despite rising to 0.9334, USD/CHF failed to sustain gain and dropped sharply towards the end. Initial bias is mildly on the downside and deeper retreat could be seen. However, near term outlook is unchanged as long as 0.9071 support holds. Fall from 0.9594 is finished with three waves down to 0.8930 after hitting lower channel support. Rise from 0.8930 is expected to resume sooner or later and above 0.9253 should flip bias back to upside. Break of 0.9334 will target 0.9594 and above. However, below 0.9071 will suggest that rebound from 0.8930 is finished and would possibly extend the fall from 0.9594 to another low below 0.8930.
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USD/CHF Mid-Day Outlook Print E-mail
USDCHF Outlook | Written by ActionForex.com | Mar 16 12 15:02 GMT
USD/CHF's fall from 0.9334 extends further to as low as 0.9150 in early US session. Intraday bias is on the downside for further decline. However, at this point, we'd still expect strong support inside 0.9071/9201 zone to contain downside. Above 0.9253 minor resistance should flip bias back to the upside for 0.9334 and above to resume the rebound from 0.8930. However, break of 0.9071 support will indicate that rebound from 0.8930 is indeed finished and fall from 0.9594 is possibly resuming for another low below 0.8930.
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USD/CHF Daily Outlook Print E-mail
USDCHF Outlook | Written by ActionForex.com | Mar 16 12 07:13 GMT
Intraday bias in USD/CHF remains neutral for the moment and more consolidations could be seen below 0.9334. But downside is expected to be contained by 0.9071/9201 support zone and bring another rise. Prior break of 0.9300 resistance confirmed that decline from 0.9594 has completed with three waves down to 0.8930. Also, the corrective structure in turn indicates that whole rally from 0.7065 is still in progress. Above 0.9334 will target a test on 0.9594 high first.
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USD/CHF Mid-Day Outlook Print E-mail
USDCHF Outlook | Written by ActionForex.com | Mar 15 12 12:45 GMT
A temporary top is in place in USD/CHF at 0.9334 and intraday bias is turned neutral for some consolidations. But downside should be contained by 0.9071/9201 support zone and bring another rise. Prior break of 0.9300 resistance confirmed that decline from 0.9594 has completed with three waves down to 0.8930. Also, the corrective structure in turn indicates that whole rally from 0.7065 is still in progress. Above 0.9334 will target a test on 0.9594 high first.
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USD/CHF Daily Outlook Print E-mail
USDCHF Outlook | Written by ActionForex.com | Mar 15 12 07:13 GMT
USD/CHF's break of 0.9300 resistance confirmed that decline from 0.9594 has completed with three waves down to 0.8930. Also, the corrective structure in turn indicates that whole rally from 0.7065 is still in progress. Intraday bias remains on the upside for the momentum and stronger rise should be seen to retest 0.9594 next. On the downside, below 0.9247 minor support will turn bias neutral and bring consolidation. From strong support should be seen from 0.9071/9201 zone to contain downside and bring rally resumption.
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USD/CHF Mid-Day Outlook Print E-mail
USDCHF Outlook | Written by ActionForex.com | Mar 14 12 12:40 GMT
Intraday bias in USD/CHF remains on the upside for 0.9300 resistance. As noted before, fall from 0.9594 has likely completed with three waves down to 0.8930 already. Break of 0.9300 will confirm the bullish case and target a test on 0.9594. Also, the corrective three wave structure of the fall from 0.9594 to 0.8930 in turn argue that whole rally from 0.7065 is still in progress. After all, we'll stay cautiously bullish as long as 0.9139 support holds, even in case of retreat.
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USD/CHF Daily Outlook Print E-mail
USDCHF Outlook | Written by ActionForex.com | Mar 14 12 07:20 GMT
USD/CHF rises further to as high as 0.9274 so far and intraday bias remains on the upside for 0.9300 resistance. As noted before, fall from 0.9594 has likely completed with three waves down to 0.8930 already. Break of 0.9300 will confirm the bullish case and target a test on 0.9594. Also, the corrective three wave structure of the fall from 0.9594 to 0.8930 in turn argue that whole rally from 0.7065 is still in progress. After all, we'll stay cautiously bullish as long as 0.9139 support holds, even in case of retreat.
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USD/CHF Mid-Day Outlook Print E-mail
USDCHF Outlook | Written by ActionForex.com | Mar 13 12 13:32 GMT
USD/CHF's rally resumed after brief consolidation and reached as high as 0.9240 so far. Intraday bias is back on the upside for 0.9300 resistance. As noted before, all from 0.9594 has likely completed with three waves down to 0.8930 already. Break of 0.9300 will confirm the bullish case and target a test on 0.9594. Also, the corrective three wave structure of the fall from 0.9594 to 0.8930 in turn argue that whole rally from 0.7065 is still in progress. After all, we'll stay cautiously bullish as long as 0.9071 support holds, even in case of retreat.
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USD/CHF Daily Outlook Print E-mail
USDCHF Outlook | Written by ActionForex.com | Mar 13 12 07:22 GMT
USD/CHF failed to sustain gain above 0.9201 and intraday bias is turned neutral again. Nonetheless, we're cautiously bullish on USD/CHF with 0.9071 support intact and expect another rise for 0.9300. As noted before, fall from 0.9594 has likely completed with three waves down to 0.8930 already. Break of 0.9300 will confirm the bullish case and target a test on 0.9594. Also, the corrective three wave structure of the fall from 0.9594 to 0.8930 in turn argue that whole rally from 0.7065 is still in progress.
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USD/CHF Mid-Day Outlook Print E-mail
USDCHF Outlook | Written by ActionForex.com | Mar 12 12 14:55 GMT
Intraday bias in USD/CHF remains on the upside for 0.9300 resistance. As noted before, fall from 0.9594 has likely completed with three waves down to 0.8930 already. Break of 0.9300 will confirm the bullish case and target a test on 0.9594. Also, the corrective three wave structure of the fall from 0.9594 to 0.8930 in turn argue that whole rally from 0.7065 is still in progress. On the downside below 0.9071 is needed to signal completion of the rebound. Otherwise, we'll stay cautiously bullish even in case of retreat.
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