Tue, Oct 26, 2021 @ 05:43 GMT

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9903; (P) 0.9925; (R1) 0.9951; More

Intraday bias in USD/CHF remains mildly on the downside at this point. Correction from 1.0128 is possibly extending. But downside should be contained by 0.9848 support to bring near term reversal. On the upside, above 0.9989 will turn bias back to the upside. Break of 1.0008 will target a test on 1.0128 high.

In the bigger picture, current development suggests that the medium term rally from 0.9186 hasn’t completed yet. Break of 1.0128 will target 1.0342 key resistance next (2016 high). On the downside, break of 0.9848 support will dampen this bullish view and turn focus back to 0.9541 key support instead.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9749; (P) 0.9768; (R1) 0.9801; More

Intraday bias in USD/CHF remains on the upside at this point. Current rally from 0.9186 should extend to 0.9900 fibonacci level next. On the downside, below 0.9733 minor support will turn bias neutral and bring consolidations. But outlook will stay bullish as long as 0.9576 support holds.

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.

USD/CHF Daily Outlook

Daily Pivots: (S1) 1.0028; (P) 1.0051; (R1) 1.0096; More…..

With 1.0135 minor resistance intact, deeper fall could be seen in USD/CHF. Rise from 0.9443 could have completed at 1.0342 already, after failing to sustain above 1.0327 key resistance. Deeper fall would be seen back to 0.9443/9548 support zone. On the upside, above 1.0135 minor resistance will turn focus back to 1.0342 resistance instead.

In the bigger picture, rejection from 1.0327 resistance suggests that consolidation pattern from there is still in progress. Fall from 1.0342 is seen as the third leg and retest of 0.9443/9548 support zone could be seen. But we’d expect strong support from there to contain downside. At this point, we’re still extend the larger rally to resume later to 38.2% retracement of 1.8305 to 0.7065 at 1.1359.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

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USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9888; (P) 0.9910; (R1) 0.9937; More

No change in USD/CHF’s outlook as consolidation from 0.9954 is extending. Deeper fall could be seen 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 resume the rise from 0.9541 and 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) 0.9861; (P) 0.9878; (R1) 0.9888; More

USD/CHF’s recovery is limited below 0.9926 minor resistance and intraday bias remains neutral for the moment. We’d continue to look for strong support from 0.9841 to contain downside and bring rebound. On the upside, above 0.9926 minor resistance will turn bias back to the upside for retesting 1.0023/27 resistance zone. However, sustained break of 0.9841 will indicate near term reversal and pave the way back to 0.9659 support.

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 Daily Outlook

Daily Pivots: (S1) 0.9593; (P) 0.9621; (R1) 0.9641; More

Intraday bias in USD/CHF remains on the downside at this point. Correction from 0.9901 is in progress. Further fall would be seen and break of 0.9588 will target 0.9502 support. But downside should be contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound. On the upside, break of 0.9736 resistance will turn bias back to the upside instead.

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). Break of 0.9901 will extend the rebound form 0.9181 through 1.0023 resistance. After all, medium term range trading will likely continue between 0.9181/1.0237 for some more time.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9390; (P) 0.9415; (R1) 0.9444; More….

USD/CHF’s rally is still in progress and intraday bias stays on the upside. Current rise from 0.8756 should target 61.8% retracement of 0.9901 to 0.8756 at 0.9464. Break there will target 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.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9754; (P) 0.9799; (R1) 0.9828; More

Intraday bias in USD/CHF remains neutral at this point and some more consolidation could be seen below 0.9484. 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.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9472; (P) 0.9533; (R1) 0.9569; More

USD/CHF’s rebound from 0.9437 resumed after deep but brief retreat. But still, it’s staying in range of 0.9437/9699. Intraday bias remains neutral first. At this point, we remain cautious on strong support from 0.9443 key support to bring reversal. Decisive break of 0.9699 will confirm and turn outlook bullish. Meanwhile, sustained trading below 0.9443 will extend the down trend from 1.0342 to 161.8% projection of 1.0342 to 0.9860 from 1.0099 at 0.9319.

In the bigger picture, focus is now back 0.9443 key support level. Sustained break there indicate underlying bearish momentum and would target 0.9 handle and possibly below. Meanwhile, strong rebound from current level and break 0.9699 resistance will extend long term range trading between 0.9443/1.0342.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9607; (P) 0.9663; (R1) 0.9695; More

Intraday bias in USD/CHF is turned to the downside with break of 0.9638 minor support. Corrective pattern from 0.9901 is extend with another down leg to 0.9588 support and below. But downside should be contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound. On the upside, break of 0.9736 resistance will turn bias back to the upside for a test on 0.9901 high.

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). Break of 0.9901 will extend the rebound form 0.9181 through 1.0023 resistance. After all, medium term range trading will likely continue between 0.9181/1.0237 for some more time.

USD/CHF Weekly Outlook

USD/CHF’s decline from 0.9304 extended further to as low as 0.9030 last week before recovering mildly. Initial bias stays neutral this week first. In case of another recovery, upside should bel limited below 0.9165 resistance. On the downside, break of 0.9030 will target 0.8998 low first. Firm break there will resume larger down trend to 61.8% projection of 0.9901 to 0.8998 from 0.9304 at 0.8746.

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.

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

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9859; (P) 0.9890; (R1) 0.9908; More

Intraday bias in USD/CHF remains neutral for consolidation below 0.9919 temporary top. Deeper retreat could be seen after hitting 0.9900 fibonacci resistance. But downside should be contained above 0.9648 resistance turned support and bring another rally. Above 0.9919 will target 1.0037 resistance next.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 0.9648 resistance turned support holds, even in case of pull back.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9603; (P) 0.9639; (R1) 0.9660; More

USD/CHF is staying in range of 0.9594/9772 and intraday bias remains neutral for the moment. Outlook is a bit mixed as the pair is bounded inside medium term falling channel. The pair was also limited below 38.2% retracement of 1.0342 to 0.9437 at 0.9783. Firm break of 0.9594 will dampen our bullish view and turn bias back to the downside for 0.9437. This could also extend the fall through 1.0342 through 0.9437/43 key support level. On the upside, above 0.9772 will revive the bullish case of reversal and turn bias back to the upside.

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 Daily Outlook

Daily Pivots: (S1) 0.9868; (P) 0.9889; (R1) 0.9924; More

Intraday bias in USD/CHF remains neutral at this point. Further rise is in favor as long as 0.9798 support holds. Break of 0.9946 will target 0.9975 resistance first. But break of 0.9798 will turn bias to the downside for retesting 0.9659/9713 support zone instead.

In the bigger picture, the structure of the fall from 1.0237 suggests that it’s a corrective move. Break of 0.9975 will argue that such correction has completed at 0.9659, ahead of 61.8% retracement of 0.9186 to 1.0237 at 0.9587. But decisive break of 1.0237 is needed to indicate up trend resumption. Otherwise, medium term outlook will stay neutral first. Meanwhile, break of 0.9695 support will extend the correction to 0.9541 support instead.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9122; (P) 0.9154; (R1) 0.9180; More….

Intraday bias in USD/CHF remains neutral at this point. On the downside, break of 0.9116 support will affirm the case that rebound from 0.8925 has completed at 0.9273. Deeper fall would then be seen back to retest 0.8925 low. On the upside, however, break of 0.9273 and sustained trading above 61.8% retracement of 0.9471 to 0.8925 at 0.9262 will target 0.9471 resistance next.

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.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9709; (P) 0.9737; (R1) 0.9759; More….

Intraday bias in USD/CHF remains neutral for the moment. Considering bearish divergence condition in 4 hour MACD, break of 0.9704 resistance turned support will argue that rebound from 0.9420 has completed. This will also mixed up the near term outlook and turn bias back to the downside for 0.9587 support. Meanwhile, break of 0.9835 temporary top will extend the rebound to 61.8% retracement of 1.0342 to 0.9420 at 0.9990.

In the bigger picture, current development suggests that USD/CHF has defended 0.9443 (2016 low) key support level again. Rise from 0.9420 could develop into a medium term move and target a test on 1.0342 high. This represents the upper end of a long term range that started back in 2015. On the downside, break of 0.9587 support is now needed to indicate completion of the rise from 0.9420. Otherwise, further rally will remain in favor in medium term.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9280; (P) 0.9303; (R1) 0.9345; More….

Intraday bias in USD/CHF is turned neutral with today’s retreat, and some consolidations could be seen. But further rally will remain in favor as long as 0.9162 support holds. Rise form 0.8925 is in progress and break of 0.9331 will target 0.9471 key resistance. Sustained break there will carry larger bullish implications.

In the bigger picture, the strong rally above 55 week EMA (now at 0.9182) now tilts favor to the case of bullish trend reversal. That is, decline from 1.3042 (2016 high) is probably completed at 0.8756 already. Sustained break of 0.9471 resistance should confirm this case and pave the way to retest 1.0342 ahead. However, rejection by 0.9471 will mix up the outlook again and retain some medium term bearishness.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9854; (P) 0.9906; (R1) 0.9934; More

The break of 0.9900 support indicates resumption of fall from 1.0067. Intraday bias is turned to the downside for 0.9856 support first. Break will target 0.9787 and below. For now, USD/CHF is seen as in consolidation from 1.0056 with fall from 1.0067 as the third leg. Downside should be contained by 38.2% retracement of 0.9186 to 1.0056 at 0.9724 to bring rebound. On the upside, break of 0.9977 resistance is needed to indicate completion of the decline. Otherwise, near term outlook is mildly bearish in case of recovery.

In the bigger picture, current development suggests that the consolidation pattern from 1.0056 is extending with another leg. As long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds, we’d expect rise from 0.9186 to resume at a later stage to retest 1.0342 key resistance (2016 high). However, sustained break of 0.9724 will bring deeper fall, as another declining leg in the long term range pattern.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9901; (P) 0.9959; (R1) 0.9997; More….

USD/CHF’s consolidation from 1.0037 is still in progress and drips lower. Intraday bias remains neutral at this point. As noted before, downside should be contained above 0.9835 resistance turned support and bring rally resumption. On the upside break of 1.0037 will resume whole rally from 0.9420. And with sustained trading above 61.8% retracement of 1.0342 to 0.9420 at 0.9990, USD/CHF should then target a test on 1.0342 key resistance.

In the bigger picture, current development suggests that USD/CHF has defended 0.9443 (2016 low) key support level again. Rise from 0.9420 could is a medium term up move and should target a test on 1.0342 high. This represents the upper end of a long term range that started back in 2015. On the downside, break of 0.9736 support is now needed to indicate completion of the rise from 0.9420. Otherwise, further rally will remain in favor in medium term.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

USD/CHF Weekly Outlook

The late breach of 0.9956 minor support last week suggests that correction from 1.0056 is extending lower. Initial bias is mildly on the downside this week deeper decline. We’d expect strong support from trend line (now at 0.9799) to contain downside to bring rebound. But, on the upside, break of 1.0056 is needed to confirm rise resumption. Otherwise, more consolidation would be seen first even in case of rebound.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.

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.