USD/CHF recovered after dipping to 0.7871 last week. Initial bias remains neutral this week for consolidations. Stronger recovery cannot be ruled out, but upside should be limited by 0.8054 support turned resistance to bring another fall. Below 0.7871 will extend the larger down trend to 61.8% projection of 0.9200 to 0.8038 from 0.8475 at 0.7757. Firm break there will pave the way to 100% projection at 0.7313 next.

In the bigger picture, long term down trend from 1.0342 (2017 high) is still in progress. Next target is 100% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.7382. In any case, outlook will stay bearish as long as 0.8475 resistance holds.

In the long term picture, price action from 0.7065 (2011 low) are seen as a corrective pattern to the multi-decade down trend from 1.8305 (2000 high). It’s uncertain if the fall from 1.0342 is the second leg of the pattern, or resumption of the down trend. But in either case, outlook will stay bearish as long as 0.9200 resistance holds. Retest of 0.7065 should be seen next.

Daily Pivots: (S1) 0.8089; (P) 0.8179; (R1) 0.8238; More…

USD/CHF is staying in consolidations above 0.8098 temporary low and intraday bias remains neutral. While stronger rise might be seen, upside should be limited by 55 4H EMA (now at 0.8391) to bring another fall. On the downside, break of 0.8098 will resume recent down trend to 200% projection of 0.9196 to 0.8757 from 0.8854 at 0.7976 next.

In the bigger picture, the break of 0.8332 (2023 low) confirms resumption of long term down trend from 1.0342 (2017 high). Next target is 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9196 at 0.8075. Firm break there will target 100% projection at 0.7382.

Daily Pivots: (S1) 0.7974; (P) 0.8007; (R1) 0.8068; More….

Intraday bias in USD/CHF remains on the upside for the moment. Price actions from 0.7871 are still seen as a corrective pattern. Further rise would be seen to 55 D EMA (now at 0.8107), but upside should be limited there. On the downside, below 0.7910 support will bring retest of 0.7871 low. However, sustained trading above 55 D EMA will indicate medium term bottoming, and target 0.8475 resistance next.

In the bigger picture, long term down trend from 1.0342 (2017 high) is still in progress. Next target is 100% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.7382. In any case, outlook will stay bearish as long as 0.8475 resistance holds.

Daily Pivots: (S1) 0.9681; (P) 0.9695; (R1) 0.9706; More…..

USD/CHF’s rebound from 0.9651 extends higher today but it’s staying below 0.9775 minor resistance. Intraday bias remains neutral and deeper decline is still in favor. On the downside, break of 0.9651 will target 200% projection of 1.0067 to 0.9866 from 0.9981 at 0.8579 next. However, Firm break of 0.9775 will be an early sign of near term reversal. That is, fall from 1.0067 could have completed. In this case, further rally would be seen back to 0.9866 support turned resistance for confirmation.

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.

USD/CHF rebounded further to 0.9848 last week but failed to break 38.2% retracement of 1.0237 to 0.9613 at 0.9851 and retreated sharply. Initial bias is neutral this week. On the downside, break of 0.9741 will suggest rejection by 0.9851 and retain near term bearishness. Intraday bias will be turned back to the downside for retesting 0.9613 low. On the upside, sustained break of 0.9851 will add to the case of bullish near term reversal and target 61.8% retracement at 0.9999 next.

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.

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) 0.9190; (P) 0.9214; (R1) 0.9260; More….

Intraday bias in USD/CHF remains on the upside at this point. Current rise from 0.8925 short term bottom should target 61.8% retracement of 0.9471 to 0.8925 at 0.9262. Sustained break there will pave the way to retest 0.9471 resistance. On the downside, below 0.9166 will turn intraday bias neutral first.

In the bigger picture, medium term bearishness is neutralized by strong break of 55 week EMA. Focus is back 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.

Daily Pivots: (S1) 0.8526; (P) 0.8547; (R1) 0.8579; More….

While USD/CHF’s rebound could extend higher, overall outlook will stay bearish as long as 0.8665 support turned resistance holds. On the downside, break of 0.8487 minor support will bring retest of 0.8332 low first. However, decisive break of 0.8665 will rise the change of larger trend reversal and target 0.8819 resistance next.

In the bigger picture, outlook in USD/CHF will stay bearish as long as 0.9243 resistance holds. Larger down trend from 1.0146 (2022 high) should extend further to 61.8% retracement of 1.0146 to 0.8551 from 0.9243 at 0.8257.

Daily Pivots: (S1) 0.9030; (P) 0.9058; (R1) 0.9087; More…

USD/CHF’s fall from 0.9200 accelerated lower today and the firm break of 0.9007 support argue that rise from 0.8374 has completed just ahead of 0.9223 key resistance. Intraday bias is back on the downside. Sustained break of 55 D EMA (now at 0.8959) will target 38.2% retracement of 0.8374 to 0.9200 at 0.8884 next. For now, risk will stay on the downside as long as 0.9200 resistance holds, in case of recovery.

In the bigger picture, as long as 0.9223 resistance holds, price actions from 0.8332 (2023 low) are seen as a medium term corrective pattern. That is, long term down trend is in favor to resume through 0.8332 at a later stage. However, sustained break of 0.9223 will be an important sign of bullish trend reversal.

Daily Pivots: (S1) 0.9276; (P) 0.9299; (R1) 0.9323; More….

USD/CHF’s break of 0.9356 support suggests that deeper correction is underway. Intraday bias is back on the downside. Still, overall outlook will remain bullish as long as 0.9044 resistance turned support holds. Up trend resumption is expected at a later stage. Break of 0.9374 will target 61.8% retracement of 0.9901 to 0.8756 at 0.9464.

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) 0.8246; (P) 0.8277; (R1) 0.8319; More….

USD/CHF is holding above 0.8208 temporary low and intraday bias remains neutral. Risk will stays on the downside as long as 0.8475 resistance holds. Corrective rebound from 0.8038 should have completed already. Below 0.8208 will bring retest of 0.8038 first. Firm break there will resume larger down trend to 61.8% projection of 0.9200 to 0.8038 from 0.8475 at 0.7757 next.

In the bigger picture, long term down trend from 1.0342 (2017 high) is still in progress and met 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.8079 already. In any case, outlook will stay bearish as long as 55 W EMA (now at 0.8765) holds. Sustained break of 0.8079 will target 100% projection at 0.7382.

USD/CHF rose to 0.9990 last week but formed a temporary top there and retreated. Initial bias is neutral this week first, for some consolidations. But downside of retreat should be contained by 0.9856 resistance turn support to bring another rally. As note before, corrective pull back from 1.0128 has completed at 0.9716 already. Above 0.9990 will extend the rise from 0.9716 to retest 1.0128 high.

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. Break of 0.9963 will affirm this bullish case. 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.

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) 0.9901; (P) 0.9941; (R1) 0.9998; More…

USD/CHF is staying in consolidation from 1.0146 and intraday bias remains neutral. Further rally is still expected with 0.9779 support intact. On the upside, break of 1.0146 will resume larger up trend to 1.0283 projection level. However, firm break of 0.9779 will be a sign of reversal, and bring deeper decline back to 0.9478 support instead.

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.

Daily Pivots: (S1) 0.8105; (P) 0.8130; (R1) 0.8148; More….

Intraday bias in USD/CHF stays on the upside for the moment. Rise from 0.7871 is at least correcting the fall from 0.9200. Further rally should be seen to 38.2% retracement of 0.9200 to 0.7871 at 0.8379 next. On the downside, below 0.8086 minor support will turn intraday bias neutral and bring consolidations first.

In the bigger picture, long term down trend from 1.0342 (2017 high) is still in progress. Next target is 100% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.7382. In any case, outlook will stay bearish as long as 0.8475 resistance holds.

Daily Pivots: (S1) 0.8013; (P) 0.8074; (R1) 0.8114; More….

Intraday bias in USD/CHF stays on the downside with focus on 0.8038 low. Firm break there will confirm larger down trend resumption. Next target is 61.8% projection of 0.9200 to 0.8038 from 0.8475 at 0.7757. For now, risk will stay on the downside as long as 0.8214 resistance holds, in case of recovery.

In the bigger picture, long term down trend from 1.0342 (2017 high) is still in progress and met 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.8079 already. In any case, outlook will stay bearish as long as 55 W EMA (now at 0.8640) holds. Sustained break of 0.8079 will target 100% projection at 0.7382.

Daily Pivots: (S1) 0.8318; (P) 0.8349; (R1) 0.8378; More….

USD/CHF breached 0.8323 support but failed to sustain below. Intraday bias stays neutral first. On the downside, firm break of 0.8323 support will argue that corrective rebound from 0.8038 has completed at 0.8475, after rejection by 38.2% retracement of 0.9200 to 0.8038 at 0.8482. Intraday bias will be back on the downside for 0.8184, and then retest of 0.8038 low. However, sustained trading above 0.8482 will dampen this bearish view and target 61.8% retracement at 0.8756 next.

In the bigger picture, long term down trend from 1.0342 (2017 high) is still in progress and met 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.8079 already. In any case, outlook will stay bearish as long as 55 W EMA (now at 0.8765) holds. Sustained break of 0.8079 will target 100% projection at 0.7382.

Daily Pivots: (S1) 0.9217; (P) 0.9240; (R1) 0.9273; More….

Intraday bias in USD/CHF remains on the upside for the moment Sustained break of 61.8% retracement of 0.9471 to 0.8925 at 0.9262 will pave the way to retest 0.9471 resistance. On the downside, break of 0.9141 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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) 0.8783; (P) 0.8802; (R1) 0.8816; More….

Despite earlier dip, USD/CHF recovered ahead of 0.8727 resistance turned support. Intraday bias remains neutral and further rally is still expected. On the upside, break of 0.8885 will resume the rise from 0.8332 and target and 100% projection of 0.8332 to 0.8727 from 0.8550 at 0.8954. However, sustained break of 0.8727 will dampen this bullish view, and turn bias back to the downside for 0.8550 support instead.

In the bigger picture, a medium term bottom should be formed at 0.8332, on bullish convergence condition in W MACD, just ahead of 0.8317 long term fibonacci support. It’s still early to decide if the larger down trend from 1.0146 (2022 high) is reversing. But further rise should be seen to 0.9243 resistance even as a correction.

Daily Pivots: (S1) 0.9043; (P) 0.9056; (R1) 0.9076; More….

USD/CHF is staying in consolidation above 0.9005 temporary low and intraday bias stays neutral. Further decline is in favor as long as 55 4H EMA (now at 0.9101) holds. On the downside, break of 0.9005 and sustained trading below 55 D EMA (now at 0.8996) 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 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) 0.9422; (P) 0.9461; (R1) 0.9499; More…

Intraday bias in USD/CHF remains neutral at this point. On the downside, firm break of 0.9355 will resume the decline from 1.0146 to 0.9287 fibonacci level. Near term outlook will remain bearish as long as 0.9680 minor resistance holds, in case of another recovery.

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. 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 55 day EMA (now at 0.9726) holds.