Daily Pivots: (S1) 0.9431; (P) 0.9465; (R1) 0.9523; More…

Range trading continues in USD/CHF and intraday bias remains neutral. 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.

Daily Pivots: (S1) 0.9679; (P) 0.9708; (R1) 0.9739; More…

Intraday bias in USD/CHF remains neutral for the moment. Fall from 0.9884 is seen as a falling leg of the consolidation from 1.0063. Below 0.9652 will target 0.9493 support. On the upside, though, 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) 0.9564; (P) 0.9580; (R1) 0.9614; More….

USD/CHF continues to lose upside momentum as seen in 4 hour MACD and intraday bias is turned neutral first. Some consolidations could be seen. But downside should be contained above 0.9372 resistance turned support to bring another rally. On the upside, sustained break of 0.9591 medium term projection level will pave the way to next at 0.9864.

In the bigger picture, down trend from 1.0342 (2016 high) could have completed with three waves down to 0.8756 (2021 low) already. Rise from 0.8756 is likely a medium term up trend of its own. Sustained break of 61.8% projection of 0.8756 to 0.9471 from 0.9149 at 0.9591 will pave the way to 100% projection at 0.9864. This will now remain the favored case as long as 0.9193 support holds.

USD/CHF stayed in consolidation above 0.9009 last week and outlook is unchanged. Initial bias remains neutral this week first. As long as 0.9197 resistance holds, outlook remains bearish for further fall. Break of 0.9009 will resume larger down trend for 100% projection of 1.0237 to 0.9181 from 0.9901 at 0.8845. On the upside, though, break of 0.9197 resistance will indicate short term bottoming and bring stronger rebound.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low), which is still extending. Sustained 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.

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) 0.9745; (P) 0.9764; (R1) 0.9791; More….

USD/CHF is still staying in corrective trading above 0.9689 temporary low. Intraday bias remains neutral at this point. As long as 4 hour 55 EMA (now at 0.9785) holds, deeper fall is mildly in favor. But we’d expect 61.8% retracement of 0.9420 to 0.1.0037 at 0.9656 to contain downside and bring rebound. Sustained break of 4 hour 55 EMA will argue that the correction from 1.0037 has completed and turn focus to 0.9977 resistance for confirmation.

In the bigger picture, range trading continues between 0.9420/1.0342. At this point, 0.9420 appears to be a strong support level. Therefore, in case of decline attempt, we don’t expect a firm break of this level. Nonetheless, strong break of 1.0342 is also needed to confirm upside momentum. Otherwise, medium term outlook will stay neutral.

Daily Pivots: (S1) 1.0022; (P) 1.0047; (R1) 1.0086; More…

At this point, USD/CHF is still limited below 1.0094 resistance. Intraday bias remains neutral first. On the upside, break of 1.0094 and sustained trading above 1.0067 will confirm resumption of whole rise from 0.9541. USD/CHF should then target 1.0342 key resistance next. On the downside, below 0.9952 will extend the consolidation from 1.0094 with another decline. But we’d expect strong support from 38.2% retracement of 0.9541 to 1.0094 at 0.9883 to contain downside to bring rebound.

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, firm 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) 0.9059; (P) 0.9095; (R1) 0.9140; More…

Intraday bias in USD/CHF remains mildly on the downside for retesting 0.8998. Break will resume larger down trend. Nevertheless, break of 0.9200 will resume the rebound towards 38.2% retracement of 0.9901 to 0.8998 at 0.9343.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low), which is still extending. Sustained 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.

USD/CHF rose further to 0.9964 last week but retreated since then. Initial bias stays neutral this week first. On the upside, above 0.9964 will resume the rally from 0.9369 to retest 1.0063 high. On the downside, break of 0.9694 support will extend the corrective pattern from 1.0063 with another falling leg, towards 0.9478 support first.

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.

In the long term picture, outlook is mixed with deeper than expected fall from 1.0063, but some support was seen from 55 week EMA (now at 0.9492). Overall, though, USD/CHF is seen as in sideway pattern from 1.0342 (2016 high). Range trading should continue until further development.

Daily Pivots: (S1) 0.9729; (P) 0.9758; (R1) 0.9778; More…..

Intraday bias in USD/CHF remains neutral for the moment and some more consolidations could be seen. In case of another recovery, upside should be limited well below 0.9975 resistance to bring fall resumption. On the downside, firm break of 0.9695 will resume the fall from 1.0237 to 0.9587 fibonacci level next.

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) 0.8925; (P) 0.8956; (R1) 0.9016; More…

No change in USD/CHF’s outlook and intraday bias stays neutral with immediate focus on on 0.8993 resistance. Decisive break there will confirm short term bottoming at 0.8818, on bullish convergence condition in 4H MACD. Intraday bias will be turned back to the upside for 55 D EMA (now at 0.9052) and possibly above. In case of another fall, strong support should be seen from 61.8% projection of 1.0146 to 0.9058 from 0.9439 at 0.8767, which is close to 0.8756 long term support, to bring rebound.

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) 0.9291; (P) 0.9359; (R1) 0.9395; More…

USD/CHF’s strong break of 0.9284 support should now confirm that corrective rebound from 0.9058 has completed at 0.9439. That came ahead of 38.2% retracement of 1.0146 to 0.9058 at 0.9474. Intraday bias is back on the downside for retesting 0.9058 low. Firm break there will resume larger down trend from 1.0146. On the upside, however, break of 0.9315 minor resistance will mix up the outlook and turn bias neutral again.

In the bigger picture, decline from 1.0146 is seen as part of a long term sideway pattern. As long as 38.2% retracement of 1.0146 to 0.9058 at 0.9474 holds, another fall is in favor through 0.9058. However, sustained trading above 0.9474 will indicate that the medium term trend has reversed, and open up further rally to 61.8% retracement at 0.9730 and above.

Daily Pivots: (S1) 0.8888; (P) 0.8909; (R1) 0.8947; More….

USD/CHF’s strong break of 0.8939 minor resistance suggests that pull back from 0.9044 has completed at 0.8869. The development also indicates that corrective pattern from 0.8756 is extending with another rising leg. Intraday bias is back on the upside for 0.9044 resistance first. Break 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) 0.8952; (P) 0.8999; (R1) 0.9024; More….

Break of 0.8959 suggests resumption of fall from 0.9471. Intraday bias is back on the downside to retest 0.8756 low. On the upside, break of 0.9046 resistance, however, will indicate short term bottoming. Intraday bias will be turned back to the upside for stronger rebound.

In the bigger picture, 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) 0.9410; (P) 0.9435; (R1) 0.9465; More….

Intraday bias in USD/CHF stays on the upside at this point. Firm break of 61.8% retracement of 0.9901 to 0.8756 at 0.9464 will extend the rise from 0.8756 towards 0.9901 resistance next. On the downside, below 0.9369 minor support will turn intraday bias neutral again. But overall outlook will remain bullish as long as 0.9221 support holds.

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) 0.9568; (P) 0.9605; (R1) 0.9654; More

Intraday bias in USD/CHF stays neutral for the moment. On the upside, firm break of 4 hour 55 EMA (now at 0.9644) will target 0.9868 resistance first. Further break there will argue that larger up trend is ready to resume through 1.0063. On the downside, below 0.9478 will extend the fall from 0.9868 towards 0.9369 support. Overall, corrective pattern from 1.0063 could extend further as long as 0.9868 resistance holds.

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) 0.9321; (P) 0.9348; (R1) 0.9367; More….

USD/CHF failed to sustain above 0.9367 resistance and retreated after forming a temporary top at 0.9372. Intraday bias is turned neutral first. Another rise will remain in favor as long as 0.9248 support holds. Above 0.9372 will target 0.9471 key resistance next. Decisive break there will carry larger bullish implications. However, break of 0.9248 will turn bias back to the downside for 0.9084 support instead.

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) 0.9659; (P) 0.9688; (R1) 0.9730; More…

No change in USD/CHF’s outlook and intraday bias stays mildly on the upside for 0.9797 resistance. Break there will resume the rebound from 0.9502 for retesting 0.9901 high. On the downside, below 0.9592 will extend the consolidation from 0.9901 with another fall to 0.9502. Overall, downside should contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound.

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). Further rise could be seen to retest 1.0237 high. After all, medium term range trading will likely continue between 0.9181/1.0237 for some time.

Daily Pivots: (S1) 0.9961; (P) 0.9974; (R1) 0.9996; More…

USD/CHF’s recovery is trying to extend but it’s limited below 1.0010 minor resistance. Intraday bias stays neutral first. On the upside, break of 1.0010 minor resistance 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. On the downside, break of 0.9879 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 0.9849). 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) 0.9190; (P) 0.9212; (R1) 0.9233; More….

USD/CHF’s break of 0.9237 suggests resumption of rise from 0.8925. Intraday bias is back on the upside for 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, however, break of 0.9141 minor support will turn bias to the downside for retesting 0.8925 low 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) 0.8809; (P) 0.8829; (R1) 0.8848; More….

No change in USD/CHF’s outlook. Intraday bias stays on the downside for the moment. Current fall from 0.9243 should target 100% projection of 0.9243 to 0.8886 from 0.9111 at 0.8754 next. Nevertheless, break of 0.8873 resistance will turn bias to the upside for stronger rebound.

In the bigger picture, price actions from 0.8551 are currently seen as part of a corrective pattern to the decline from 1.0146 (2022 high). Fall from 0.9243 is seen as the second leg for now. 61.8% retracement of 0.8551 to 0.9243 at 0.8815 was already met. Sustained break there will bring retest of 0.8551 low. For now, this will remain the favored case as long as 0.9111 resistance holds.