USD/CHF breached 0.9151 resistance briefly but retreated back into established range. Initial bias remains neutral and more consolidations could be seen. On the upside, firm break of 0.9151 will resume the rally from 0.8332 and should target 0.9243 key resistance next. On the downside, break of 0.9085 will turn bias to the downside for deeper pullback.

In the bigger picture, price actions from 0.8332 medium term bottom as tentatively seen as developing into a corrective pattern to the down trend from 1.0146 (2022 high). Further rise would be seen as long as 0.8884 resistance turned support holds. But upside should be limited by 0.9243 resistance, at least on first attempt. However, decisive break of 0.9243 will argue that the trend has already reversed and turn medium term outlook bullish.

In the long term picture, price action from 0.7065 (2011 high) are seen as a corrective pattern to the multi-decade down trend from 1.8305 (2000 high). Strong rebound from 61.8% retracement of 0.7065 to 1.0342 (2016 high) will start the third leg as a medium term rally. But there will be no sign of long term reversal until firm break of 38.2% retracement of 1.8305 to 0.7065 at 1.1359.

Daily Pivots: (S1) 0.9526; (P) 0.9552; (R1) 0.9577; More….

USD/CHF’s decline accelerates to as low as 0.9427 so far today. The break of 0.9437 key support level suggests that whole down trend from 1.0342 is resuming. Intraday bias remains on the downside and current fall will now target 61.8% projection of 1.0099 to 0.9437 to 0.9772 at 0.9363. On the upside, above 0.9526 minor resistance will turn intraday bias neutral first. But outlook will remain bearish as long as 0.9772 resistance holds.

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.

Daily Pivots: (S1) 0.9105; (P) 0.9132; (R1) 0.9160; More….

Intraday bias in USD/CHF remains neutral for the moment, as consolidation from 0.99079 continues. Further fall is expected with 0.9180 minor resistance intact. On the downside, break of 0.9079 will resume the decline from 0.9471 to 61.8% retracement of 0.8756 to 0.9471 at 0.9029. Sustained break there will pave the way to retest 0.8756 low. On the upside, however, break of 0.9180 will turn bias 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. We’ll monitor the downside momentum of the decline from 0.9471, to assess the chance of breakthrough 0.8756 low at a later stage.

Daily Pivots: (S1) 0.9123; (P) 0.9181; (R1) 0.9211; More….

Intraday bias in USD/CHF remains neutral at this point. On the upside, firm break of 0.9273 resistance will resume the whole rise from 0.8925 to 100% projection of 0.8925 to 0.9273 from 0.9017 at 0.9365. On the downside, however, break of 0.9128 will turn bias back to the downside for 0.9017 support instead.

In the bigger picture, the failure to sustain above 55 week EMA (now at 0.9184) retains medium term bearish in USD/CHF. Break of 0.8925 support should resume the whole decline form 1.0342 (2016 high) through 0.8756 low. However, break of 0.9273 resistance and sustained trading above 55 week EMA will be an early sign of bullish trend reversal. Focus will then turn to 0.9471 resistance for confirmation.

Daily Pivots: (S1) 0.9732; (P) 0.9774; (R1) 0.9835; More…

USD/CHF recovers further today but upside is limited well below 0.9877 resistance. Further decline remains in favor. On the downside, break of 0.9659 will resume the fall from 1.0237 to 0.9587 fibonacci level. However, break of 0.9877 will target 0.9975 resistance instead.

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. Nevertheless, break of 0.9975 resistance is needed to indicate completion of the decline from 1.0237. Otherwise, risk will stay on the downside.

Daily Pivots: (S1) 0.9889; (P) 0.9922; (R1) 0.9960; More…..

Intraday bias in USD/CHF remains neutral for consolidation above 0.9860 temporary low. Overall, further fall is still expected with 1.0043 minor resistance intact. As noted before, decline from 1.0342 is seen as the third leg of the pattern from 1.0327. Below 0.9860 will target 61.8% retracement of 0.9443 to 1.0342 at 0.9786 and below. Meanwhile, break of 1.0043 will indicate short term bottoming and turn bias back to the upside.

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 expecting the larger rally to resume later to 38.2% retracement of 1.8305 to 0.7065 at 1.1359.

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Daily Pivots: (S1) 0.9888; (P) 0.9906; (R1) 0.9938; More…

Intraday bias in USD/CHF remains neutral at this point. On the upside, firm break of 0.9929 resistance will resume the choppy rise from 0.9659 to 0.9975 resistance next. On the downside, break of 0.9798 will revive the case that recovery from 0.9659 has completed at 0.9929. Further fall should then be seen to 0.9713 support.

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.

Daily Pivots: (S1) 0.9726; (P) 0.9798; (R1) 0.9836; More…

Intraday bias in USD/CHF is turned neutral first but further rally is expected as long as 0.9691 support holds. On the upside, break of 0.9884 resistance will argue that larger up trend is ready to resume through 1.0063 high. On the downside, however, break of 0.9691 minor support will dampen this view and turn bias back to the downside for 0.9369 support instead.

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) 0.9415; (P) 0.9454; (R1) 0.9489; More…

Intraday bias in USD/CHF remains neutral at this point. On the downside, below 0.9420 minor support will bring retest of 0.9376 low. Break will resume the whole decline form 0.9901 and target 100% projection of 0.9901 to 0.9502 from 0.9736 at 0.9337. On the upside, firm break of 0.9554 will resume the rebound from 0.9376 instead. In this case, further rally would be seen to 55 day EMA (now at 0.9602).

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 from 0.9181 through 1.0023 resistance. After all, medium term range trading will likely continue between 0.9181/1.0237 for some more time.

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

Intraday bias in USD/CHF remains neutral as it’s staying in consolidation from 0.9691. In case of another rise, upside is expected to 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.

Daily Pivots: (S1) 0.9366; (P) 0.9455; (R1) 0.9517; More…

A temporary low is formed at 0.9369 in USD/CHF and intraday bias is turned neutral for some consolidations. Upside of recovery should be limited below 0.9648 resistance to bring another decline. Break of 0.9369 will resume larger fall to 100% projection of 0.9884 to 0.9468 from 0.9648 at 0.9232.

In the bigger picture, break of 0.9471 support turned resistance argues that medium term up trend from 0.8756 has completed with three waves up to 1.0063. Long term sideway pattern might have started another falling leg. Deeper decline would now be in favor as long as 0.9648 resistance holds, to 0.9149 structural support. Sustained break there could pave the way back to 0.8756.

Daily Pivots: (S1) 0.9160; (P) 0.9172; (R1) 0.9185; More…

USD/CHF is staying in consolidation from 0.9133 and intraday bias remains neutral. Further fall is mildly in favor as long as 0.9218 minor resistance holds. Below 0.9133 will target a test on 0.8998 low. However, on the upside, break of 0.9218 minor resistance will argue that corrective rebound from 0.8998 is not completed yet. In this case, intraday bias will be turned back to the upside for 0.9304 resistance instead.

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 0.9376 support turned resistance will be an early sign of trend reversal and turn focus back to 0.9901 key resistance for confirmation.

Daily Pivots: (S1) 1.0176; (P) 1.0206; (R1) 1.0229; More…

USD/CHF recovers mildly in early US session but stays below 1.0237 temporary top. Intraday bias remains neutral and more consolidation could be seen. In case of another retreat, downside should be contained by 1.0130 minor support to bring rise resumption. Prior break of 1.0128 resistance confirmed resumption of up trend from 0.9186. On the upside, above 1.0237 will target 100% projection of 0.9716 to 1.0124 from 0.9879 at 1.0287, and then 1.0342 key resistance. However, break of 1.0130 will indicate short term topping and bring deeper retreat first.

In the bigger picture, medium term up trend from 0.9186 is extending. Current rise should 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. On the downside, break of 0.9879 support is needed to indicate reversal. Otherwise, outlook will stay bullish in case of deep pull back.

Daily Pivots: (S1) 0.9878; (P) 0.9944; (R1) 0.9994; More….

USD/CHF’s decline from 1.0124 accelerated to as low as 0.9842 so far. Break of 0.9926 confirmed completion of rise from 0.9716 at 1.0124. Intraday bias stays on the downside for retesting 0.9716 support first. On the upside, break of 1.0010 minor resistance is needed to confirm completion of the fall. Otherwise, near term outlook will remain bearish in case of recovery.

In the bigger picture, focus is back on medium term trend line (now at 0.9803). Decisive break there argue that whole rise from 0.9186 has completed. Further break of 0.9716 will confirm reversal and target next 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) 0.8986; (P) 0.9017; (R1) 0.9066; More….

USD/CHF is staying in consolidation above 0.8959 and intraday bias remains neutral first. Outlook stays bearish with 0.9092 resistance intact. On the downside, break of 0.8959 will resume the fall from 0.9471 to retest 0.8756 low. However, break of 0.9092 will indicate short term bottoming and turn bias 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) 0.9963; (P) 0.9978; (R1) 1.0003; More…

USD/CHF’s recovery from 0.9908 is still in progress but upside is limited below 1.0006 minor resistance. Intraday bias stays neutral first. On the upside, break of 1.0006 minor support will argue that the pull back from 1.0128 has completed. Intraday bias will be turned back to the upside for retesting 1.1028. However, on the downside, break of 38.2% retracement of 0.9541 to 1.0128 at 0.9904 will target 0.9848 key support level.

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, 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) 0.9549; (P) 0.9577; (R1) 0.9601; More…

No change in USD/CHF’s outlook. Strong support is still expected at 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.

Daily Pivots: (S1) 0.9073; (P) 0.9096; (R1) 0.9113; More….

With 0.9180 minor resistance intact, further fall is expected in USD/CHF. Decline from 0.9471 will target 61.8% retracement of 0.8756 to 0.9471 at 0.9029. Sustained break there will pave the way to retest 0.8756 low. On the upside, break of 0.9180 minor resistance will indicate short term bottoming and bring 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. We’ll monitor the downside momentum of the decline from 0.9471, to assess the chance of breakthrough 0.8756 low at a later stage.

Daily Pivots: (S1) 0.9254; (P) 0.9294; (R1) 0.9316; More….

USD/CHF’s fall from 0.9331 extends lower today but stays above 0.9162 support. Intraday bias remains neutral first and another rise is still in favor. Rise from 0.8925 is in progress and break of 0.9331 will target 0.9471 key resistance. Sustained break there will carry larger bullish implications. However,m break of 0.9162 will turn bias back to the downside for 0.9017 support instead.

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.

Daily Pivots: (S1) 0.9876; (P) 0.9907; (R1) 0.9930; More…

No change in USD/CHF’s outlook as consolidation from 1.0027 is in progress. Intraday bias stays on the downside for 0.9851 support and possibly below. On the upside, break of 0.9978 will target 1.0027 first.

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.