Tue, Mar 31, 2020 @ 10:07 GMT

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9765; (P) 0.9791; (R1) 0.9816; More

USD/CHF is staying in range trading below 0.9848 and intraday bias remains neutral. With 0.9741 support intact, further rise is mildly in favor. Decisive break of 38.2% retracement of 1.0237 to 0.9613 at 0.9851 will add to the case of bullish near term reversal and target 61.8% retracement at 0.9999 next. 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.

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.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9840; (P) 0.9867; (R1) 0.9919; More

USD/CHF’s rally extends to as high as 0.9895 so far and intraday bias remains on the upside. Break of 0.9900 medium term fibonacci level will target 1.0037 resistance next. On the downside, below 0.9815 minor support will turn bias neutral and bring consolidations. But downside of retreat should be contained above 0.9648 resistance turned support to bring another rise.

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. This will now be the preferred case as long as 0.9576 support holds.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9335; (P) 0.9361; (R1) 0.9401; More

Intraday bias in USD/CHF remains neutral as consolidation from 0.9288 is extending. Near term outlook will remain bearish as long as 0.9536 support turned resistance holds. Break of 0.9288 will resume the larger down trend and target next key fibonacci level at 0.9115.

In the bigger picture, the strong break of 0.9420 support suggests that fall from 1.0342 is developing into a medium term down trend. Deeper fall should be seen to 100% projection of 1.0342 to 0.9420 from 1.0037 at 0.9115. Break will target 161.8% projection at 08545. In any case, break of 0.9640 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish even in case of strong rebound.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9918; (P) 0.9935; (R1) 0.9963; More….

USD/CHF is staying in consolidation from 0.9994 and intraday bias remains neutral first. As long as 0.9905 support holds, further rally is expected in the pair. We’re holding on to the view that corrective pull back from 1.0128 has completed at 0.9716 already. On the upside, break of 0.9994 will resume the rise from 0.9716 to retest 1.0128 high. However, break of 0.9905 will dampen this view and turn bias to the downside.

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.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9909; (P) 0.9940; (R1) 0.9966; More…..

USD/CHF is staying in consolidation above 0.9879 temporary low. Intraday bias remains neutral first. Further decline remains in favor with 1.0010 minor resistance intact. On the downside, below 0.9879 will resume the fall from 1.0124 to 0.9716 key support. Nevertheless, break of 1.0010 will turn bias back to the upside for 1.0124/28 resistance zone.

In the bigger picture, focus is back on medium term trend line (now at 0.9846). 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.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 1.0078; (P) 1.0162; (R1) 1.0224; More…..

USD/CHF is staying in the consolidation pattern from 1.0342 and intraday bias remains neutral. Another fall cannot be ruled out. But in that case, we’d expect strong support from 1.0019 to contain downside and bring rally resumption. Firm break of 1.0342 will confirm up trend resumption. However, sustained break of 1.0019 will indicate near term reversal and could bring deeper fall bring to 0.9443/9548 support zone.

In the bigger picture, the corrective fall from 1.0327 should have completed at 0.9443 already. Rise from 0.9443 could be resuming the long term rally from 2011 low at 0.7065. But decisive break of 1.0327 is needed to confirm. In that case, next medium term upside target will be 38.2% retracement of 1.8305 to 0.7065 at 1.1359. Rejection from 1.0327 will extend the sideway pattern with another fall back to 0.9443/9548 support zone.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9617; (P) 0.9667; (R1) 0.9747; More….

Intraday bias in USD/CHF remains neutral for the moment. On the upside decisive break of 0.9772 resistance will suggest that whole down trend form 1.0342 has completed. In that case, near term outlook will be turned bullish for 0.9860/1.0099 resistance zone. Nonetheless, with 0.9772 resistance intact, outlook remains bearish. Below 0.9587 minor support will turn bias back to the downside for 0.9420 low.

In the bigger picture, current development suggests that 0.9443 key support (2016 low) could be taken out firmly as down trend form 1.0342 extends. There are various interpretation of the price actions. But in any case, medium term outlook will stay bearish as long as 0.9772 resistance holds. Current down trend could extend to 38.2% retracement of 0.7065 (2011 low) to 1.0342 (2016 high) at 0.9090. However, break of 0.9772 will indicate that USD/CHF has successfully defended 0.9443 again and turn outlook bullish for 1.0099 resistance.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9566; (P) 0.9602; (R1) 0.9668; More….

Intraday bias in USD/CHF remains neutral at this point. Near term outlook will stay bearish as long as 0.9698 resistance holds. Below 0.9535 will extend the fall from 1.0037 and target a test on 0.9420 low. Nonetheless, firm break of 0.9698 will be the first sign of near term reversal. And, intraday bias will be turned back to the upside for 0.9844 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.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Weekly Outlook

USD/CHF rose further to 0.9648 last week but formed a temporary top there and retreated. Initial bias is neutral this week first. Rejection from 0.9626 key fibonacci resistance, followed by break of 0.9521 support, will turn bias back to the downside for 0.9432 support. Break there will indicate near term reversal and completion of rebound from 0.9186. Meanwhile, sustained break of 0.9626 will be another evidence of larger reversal. In this case, further rise would be seen to next fibonacci level at 0.9900.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. Main focus is on 38.2% retracement of 1.0342 (2016 high) to 0.9186 (2018 low) at 0.9626. Sustained break there will add to the case of trend reversal and target 61.8% retracement at 0.9900 and above. However, rejection from 0.9626 will maintain medium term bearishness for another low below 0.9186.

In the long term picture, at this point, the long term decline from 1.0342 is still in favor to extend lower to 0.8698 key support. But sustained break of above mentioned 0.9626 will turn focus back to 1.0037/0342 resistance zone.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9698; (P) 0.9727; (R1) 0.9778; More…..

USD/CHF continues to stay in range below 0.9766 resistance and intraday bias remains neutral. On the upside, 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.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 1.0176; (P) 1.0233; (R1) 1.0266; More…..

USD/CHF’s consolidation from 1.0342 is still in progress and intraday bias stays neutral first. Deeper fall cannot be ruled out. But we’d expect strong support from 1.0019 to contain downside and bring rally resumption. Firm break of 1.0342 will confirm up trend resumption. However, firm break of 1.0019 will indicate near term reversal and could bring deeper fall bring to 0.9443/9548 support zone.

In the bigger picture, the corrective fall from 1.0327 should have completed at 0.9443 already. Rise from 0.9443 could be resuming the long term rally from 2011 low at 0.7065. But decisive break of 1.0327 is needed to confirm. In that case, next medium term upside target will be 38.2% retracement of 1.8305 to 0.7065 at 1.1359. Rejection from 1.0327 will extend the sideway pattern with another fall back to 0.9443/9548 support zone.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9707; (P) 0.9722; (R1) 0.9745; More…..

Intraday bias in USD/CHF remains neutral at this point. 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.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 1.0087; (P) 1.0103; (R1) 1.0128; More

USD/CHF is still staying in consolidation from 1.0050 temporary low and intraday bias remains neutral. Also, with 1.0126 support turned resistance intact, another decline is mildly in favor. On the downside, break of 1.0050 will resume the fall from 1.0237 to retest 0.9879 key support. However, firm break of 1.0126 will turn bias back to the upside for 1.0237 resistance.

In the bigger picture, as long as 0.9879 support holds, medium term up trend form 0.9186 is still in progress. Break of 1.0237 will target 1.0342 resistance next. For now, we’d be cautious on strong resistance from there to limit upside, until we see medium term upside acceleration. However, decisive break of 0.9879 will be a strong sign of medium term reversal. Focus will be turned back to 0.9716 support for confirmation.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9544; (P) 0.9577; (R1) 0.9593; More

Intraday bias in USD/CHF remains neutral as it’s staying in range of 0.9521/9648. On the downside, break of 0.9521 minor support will indicate rejection by 0.9626 key fibonacci resistance. Intraday bias would then be turned back to the downside for 0.9432 support first. Break there will also confirm completion of rebound from 0.9186 and turn outlook bearish. On the upside, sustained break of 0.9626 will be another evidence of larger reversal. In this case, further rise would be seen to next fibonacci level at 0.9900.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. Main focus is on 38.2% retracement of 1.0342 (2016 high) to 0.9186 (2018 low) at 0.9626. Sustained break there will add to the case of trend reversal and target 61.8% retracement at 0.9900 and above. However, rejection from 0.9626 will maintain medium term bearishness for another low below 0.9186.

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USD/CHF Weekly Outlook

USD/CHF’s fall from 1.0237 extended to as low as 1.0008 last week and broke 55 day EMA decisively. Initial bias stays on the downside this week for further fall. Sustained trading below 61.8% retracement of 0.9879 to 1.0237 at 1.0016 will pave the way to retest 0.9879 key support. On the upside, break of 1.0119 resistance will suggest that the decline from 1.0237 has completed and turn bias to the upside.

In the bigger picture, USD/CHF is losing upside momentum ahead of 1.0342 key resistance (2016 high). There is no clear sign of reversal yet. But even in case of another rise, we’d be cautious on strong resistance from 1.0342 to limit upside. On the downside, break of 0.9879 support will suggest that larger rise from 0.9186 (2018 low) has completed. Deeper fall will be seen to 0.9716 support for confirmation.

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.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 1.0045; (P) 1.0064; (R1) 1.0096; More

USD/CHF’s choppy rise from 0.9879 is still in progress. Intraday bias stays on the upside for 1.0124/8 resistance. . However, as the structure of the rise is corrective looking, we’d expect strong resistance from 1.0124 to limit upside to bring another decline. On the downside, below 0.9997 minor support will turn bias to the downside for 0.9879 support.

In the bigger picture, loss of upside momentum is seen is bearish divergence in daily MACD. But there is no clear sign of bearish reversal in USD/CHF yet. Rise fro 0.9186 is likely still in progress. Decisive break of 1.0128 resistance will resume this medium term rally to 1.0342 resistance next. This will remain the preferred case now, as long as 0.9716 support holds.

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9664; (P) 0.9689; (R1) 0.9735; More

USD/CHF is still staying in consolidation below 0.9726. Intraday bias remains neutral at this point. Another rise is expected as long as 0.9594 support holds. Prior break of 0.9699 resistance suggests near term reversal after defending 0.9443 key support. Above 0.9726 will target 38.2% retracement of 1.0342 to 0.9437 at 0.9783 first. Break will target channel resistance (now at 0.9899). However, firm break of 0.9594 will dampen this bullish view and turn bias back to the downside for 0.9437.

In the bigger picture, current development argues that USD/CHF has successfully defended 0.9443 key support level. And long term range trading in 0.9443/1.0342 is extending with another rise. At this point, there is no sign of an up trend yet. Hence, while further rise is expected in USD/CHF, we’ll start to be cautious on loss of momentum above 61.8% retracement of 1.0342 to 0.9437 at 0.9996.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 1.0056; (P) 1.0077; (R1) 1.0099; More…..

Intraday bias in USD/CHF remains neutral as consolidation from 1.0099 temporary top extends lower. Deeper pull back could be seen. But downside is expected to be contained by 0.9977 and bring another rise. As noted before, correction from 1.0342 should have completed at 0.9812. Break of 1.0107 should pave the way to retest 1.0342 high.

In the bigger picture, we’re still maintaining that firm break of 1.0342 key resistance is needed to confirm underlying bullish momentum in the pair. However, the corrective nature of the fall from 1.0342 is starting to give the medium term outlook a bullish favor. Hence, in stead of looking for topping signal around 1.0342, we’d now pay closer attention to upside acceleration as USD/CHF approaches this level again.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9336; (P) 0.9369; (R1) 0.9414; More

USD/CHF is staying in consolidation from 0.9181 and intraday bias remains neutral. Upside of recovery should be limited by 38.2% retracement of 0.9484 to 0.9181 at 0.9436 down trend resumption. On the downside, break of 0.9181 will target 200% projection of 1.0023 to 0.9613 from 0.9848 at 0.9028 next.

In the bigger picture, current development suggests that decline from 1.0237 is the third leg of the pattern from 1.0342 (2016 high). Focus will be on 100% projection 1.0342 to 0.9186 from 1.0237 at 0.9081. Sustained break there will argue that USD/CHF is in a long term down trend, which would target 138.2% projection at 0.8639 next. For now, outlook will remain bearish as long as 0.9613 support turned resistance holds, in case of rebound.

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9833; (P) 0.9880; (R1) 0.9914; More

Intraday bias in USD/CHF remains neutral for the moment. 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.

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