Sun, Aug 07, 2022 @ 22:17 GMT

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9654; (P) 0.9694; (R1) 0.9749; More…..

Despite extending the rebound from 0.9613, USD/CHF is still holding below 0.9807 resistance. Intraday bias remains neutral, with bearish near term outlook. Break of 0.9613 will extend the whole decline from 1.0342 to 0.9548 support and below. We’d start to look for bottoming signal again as it approaches 0.9443 key support level. However, considering bullish convergence condition in 4 hour MACD, break of 0.9807 will indicate near term reversal and turn outlook bullish for 1.0099 resistance next.

In the bigger picture, USD/CHF is still 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. However, sustained break of 0.9443 will carry larger bearish implication and target 0.9 handle.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9772; (P) 0.9799; (R1) 0.9817; More….

USD/CHF’s fall from 1.0037 is still in progress and intraday bias remains on he downside for 61.8% retracement of 0.9420 to 1.0037 at 0.9656. We’ll look for bottoming again below 0.9656 and above 0.9420. On the upside, break of 0.9946 resistance will indicate that the decline from 1.0037 has completed and bring retest of this resistance.

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

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9263; (P) 0.9276; (R1) 0.9303; More….

USD/CHF is still extending the consolidation from 0.9328 and intraday bias remains neutral first. On the upside, above 0.9328 will resume the rally from 0.9084 for 0.9367 resistance. On the downside, below 0.9236 minor support will turn intraday bias back to the downside for 0.9084 instead.

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.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9147; (P) 0.9167; (R1) 0.9181; More….

Intraday bias in USD/CHF is turned neutral with current recovery. But further decline is still in favor with 0.9251 minor resistance intact. Corrective rise from 0.8927 should be complete with three waves up to 0.9367, on bearish divergence condition in daily MACD. Below 0.9148 will target 0.9017 support first, and then 0.8925 support next. On the upside, however, break of 0.9251 minor resistance will turn bias back to the upside for retesting 0.9367 instead.

In the bigger picture, the corrective structure of the rebound from 0.8925 argues that fall from 0.9471 is not completed 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.

USD/CHF Mid-Day Outlook

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

Intraday bias in USD/CHF remains neutral as consolidation from 0.9994 is in progress. 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.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9792; (P) 0.9811; (R1) 0.9827; More

Intraday bias in USD/CHF remains neutral and consolidation from 0.9770 might extend. Further decline is still expected as long as 0.9876 resistance holds. On the downside, below 0.9770 will resume the decline from 1.0023 and target 0.9659 low. However, break of 0.9876 will turn bias back to the upside for 1.0023 resistance.

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.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9996; (P) 1.0033; (R1) 1.0053; More

USD/CHF drops sharply to as low as 0.9968 so far today. Deeper fall could be seen as the pull back continues. But downside should be contained by 4 hour 55 EMA (now at 0.9960) to bring another rally. The rise from 0.9186 should have just resumed. Above 1.0067 will target 61.8% projection of 0.9186 to 1.0056 from 0.9787 at 1.0325, which is close to 1.0342 key resistance. However, sustained break of the 4 hour 55 EMA will dampen this bullish view and turn focus back to 0.9858 support instead.

In the bigger picture, rise from 0.9186 is seen as a leg inside the long term range pattern. After drawing support from 55 day EMA, it’s now resuming for 1.0342 key resistance. For now, we’d still cautious on strong resistance from there to limit upside. Meanwhile, break of 0.9787 support is needed to signal completion of the rise. Otherwise, outlook will remain bullish even in case of deep pull back.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9232; (P) 0.9287; (R1) 0.9317; More

USD/CHF’s break of 0.9288 indicates recent decline has resumed. Intraday bias is back on the downside. Current fall from 1.0037 should now extend to next key fibonacci level at 0.9115. On the upside, break of 0.9392 minor resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9665; (P) 0.9690; (R1) 0.9710; More

USD/CHF’s rally resumed by taking out 0.9726 resistance. Intraday bias is back on the upside for 38.2% retracement of 1.0342 to 0.9437 at 0.9783 first. Prior break of 0.9699 resistance suggests near term reversal after defending 0.9443 key support. Break of 0.9783 will target channel resistance (now at 0.9890). On the downside, break of 0.9630 minor support will dampen this bullish view and turn bias neutral first.

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

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9599; (P) 0.9618; (R1) 0.9638; More

USD/CHF failed to take 0.9648 and weakens again today. But it’s staying in range of 0.9533/9648 and intraday bias remains neutral. On the downside, break of 0.9533 minor support should indicate rejection by 0.9626 key fibonacci resistance. Intraday bias would then be turned to the downside side for 0.9432 support. Further break there will turn near term outlook bearish for retesting 0.9186 low. On the upside, sustained trading above 0.9626 will be another evidence of larger reversal. In that case, further rally should be seen back 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.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9910; (P) 0.9928; (R1) 0.9958; More

Intraday bias in USD/CHF remains mildly on the upside. Rebound from 0.9695 would target 1.0014 resistance. Upside could be limited by 61.8% retracement of 1.0237 to 0.9695 at 1.0030. On the downside, below 0.9842 minor support will turn bias back to the downside for retesting 0.9695 low instead. However, sustained break of 1.0030 will pave the way back to retest 1.0237 high.

In the bigger picture, current development suggests that up trend from 0.9186 (2018 low) has 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.

USD/CHF Weekly Outlook

USD/CHF edged lower last week as fall from 0.9471 continued. Despite loss of downside momentum as see in 4 hour MACD, outlook is unchanged. Further fall is expected this week to retest 0.8756 low. However, break of 0.9046 resistance will now 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.

In the long term picture, price actions from 0.7065 (2011 low) are currently seen as developing into a long term corrective pattern, at least until a firm break of 1.0342 resistance.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.0.9863; (P) 0.9894; (R1) 0.9955; More

Intraday bias in USD/CHF remains on the upside as rise from 0.9541 is in progress. Current rally should target a test on 1.0067 resistance next. On the downside, though, considering bearish divergence condition in 4 hour MACD, break of 0.9889 minor support will indicate short term topping and bring lengthier consolidation first.

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.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9906; (P) 0.9926; (R1) 0.9944; More

No change in USD/CHF’s outlook. Consolidation from 0.9954 temporary top is in progress and intraday bias stays neutral first. Another fall cannot be ruled out. But downside should be contained by 38.2% retracement of 0.9541 to 0.9954 at 0.9796 to bring rise resumption. On the upside, break of 0.9954 will target 1.0067 resistance next.

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.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9675; (P) 0.9763; (R1) 0.9808; More….

Intraday bias in USD/CHF remains neutral for consolidation below 0.9851. In case of another fall, downside should be contained by 38.2% retracement of 0.9193 to 0.9851 at 0.9600. On the upside, firm break of 0.9851 will bring up trend resumption.

In the bigger picture, down trend from 1.0342 (2016 high) should 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. Next target is 100% projection of 0.8756 to 0.9471 from 0.9149 at 0.9864. Sustained break there will pave the way back to 1.0342 high. This will now remain the favored case as long as 0.9459 resistance turned support holds.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9098; (P) 0.9137; (R1) 0.9160; More….

Intraday bias in USD/CHF remains neutral at this point. Further decline is expected as long as 0.9174 resistance holds. Break of 0.9084 will resume the fall from 0.9367 to 0.9017 support, and then 0.8925. On the upside, however, break of 0.9174 resistance will indicate short term bottoming and turn bias back to the upside for stronger rebound instead.

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.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9093; (P) 0.9111; (R1) 0.9134; More….

Intraday bias in USD/CHF remains mildly on the downside for retesting 0.8982 low. Firm break there will resume later down trend. On the upside, break of 0.9207 resistance is needed to be the first sign of bullish reversal. Otherwise, outlook will stay bearish in case of another rebound.

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. On resumption, next target will be 138.2% projection of 1.0342 to 0.9186 from 1.0237 at 0.8639. Nevertheless, strong break of 0.9304 resistance will be an early sign of trend reversal and turn focus back to 0.9901 key resistance for confirmation.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9158; (P) 0.9181; (R1) 0.9213; More….

Intraday bias in USD/CHF remains neutral as range trading continues. Choppy rise from 0.8925 would still be in favor to extend higher as long as 0.9090 support holds. Break of 0.9341 will target 0.9372 resistance and then 0.9471. On the downside, however, break of 0.9090 will bring deeper fall back to 0.8925 support.

In the bigger picture, medium term outlook will be neutral at best as long as 0.9471 resistance holds. Larger down trend could still extend through 0.8756 (2021 low). However, firm break of 0.9471 will argue that the trend has already reversed and rebound the rally from 0.8756 with another impulsive move.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9590; (P) 0.9625; (R1) 0.9665; More

Outlook in USD/CHF remains unchanged and intraday bias stays neutral. Strong support is expected from 61.8% retracement of 0.9193 to 1.0063 at 0.9525 to complete the pull back from 1.0063. On the upside, above 0.9763 minor resistance will turn bias back to the upside for retesting 1.0063 high. However, sustained break of 0.9525 will bring deeper decline to 0.9193 support.

In the bigger picture, down trend from 1.0342 (2016 high) should 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. Next target is 1.0237/0342 resistance zone. This will remain the favored case as long as 0.9471 resistance turned support holds. However, sustained break of 0.9471 will extend long term range trading with another falling leg.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9221; (P) 0.9258; (R1) 0.9282; More….

Intraday bias in USD/CHF remains neutral first. On the downside, below 0.9156 will target 0.9084 support. Firm break there should confirm that choppy rise from 0.8925 has completed, and suggests that fall from 0.9471 is resuming. Deeper decline would be seen through 0.8925. On the upside, break of 0.9293 will suggest that the pull back from 0.9372 is finished. Intraday bias will be turned back to the upside for 0.9372.

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.