Daily Pivots: (S1) 0.8948; (P) 0.8974; (R1) 0.9000; More….

USD/CHF is staying in range above 0.8929 and intraday bias remains neutral at this point. Outlook stays bearish with 0.9046 resistance intact. On the downside, break of 0.8929 will resume the fall from 0.9471, to retest 0.8756 low. However, on the upside, break of 0.9045 will indicate short term bottoming. Intraday bias will be turned back to the upside for stronger rebound.

In the bigger picture, prior 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) 0.9554; (P) 0.9586; (R1) 0.9631; More….

Rebound from 0.9420 is quite strong. But still, with 0.9679 resistance intact, outlook stays bearish. Another fall is still expected. Sustained break of 0.9420 will target 61.8% projection of 1.0099 to 0.9437 from 0.9772 at 0.9363 first. Break will target 100% projection at 0.9110 next. However, break of 0.9679 will indicate near term reversal and turn bias to the upside for 0.9772 resistance for confirmation.

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.

Daily Pivots: (S1) 0.9980; (P) 1.0002; (R1) 1.0023; More…

Intraday bias in USD/CHF remains mildly on the downside at this point. Consolidation from 1.0227 is in it’s third down leg. Deeper fall could be seen to 0.9868 support, and possibly below. On the upside, though, decisive break of 1.0027 will confirm resumption of larger rally from 0.9659.

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.

Daily Pivots: (S1) 0.9119; (P) 0.9149; (R1) 0.9181; More…

Intraday bias in USD/CHF remains neutral for the moment. Corrective pattern from 0.9058 low is extending and another rise cannot be ruled out. But upside should be limited by 0.9474 fibonacci level. On the downside, firm break of 0.9058 will resume larger down trend from 1.1046.

In the bigger picture, fall from 1.1046 (2022 high) should still be in progress with 38.2% retracement of 1.0146 to 0.9058 at 0.9474 intact. Prior rejection by 55 week EMA was a medium term bearish sign. Break of 0.9058 will resume such decline towards 0.8756 support (2021 low). But overall, this fall is still 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.

Daily Pivots: (S1) 0.8482; (P) 0.8507; (R1) 0.8549; More….

Intraday bias in USD/CHF stays neutral at this point. Consolidation from 0.8332 is in progress and stronger recovery cannot be ruled out. But outlook will stay bearish as long as 0.8665 support turned resistance holds. On the downside, break of 0.8332 will resume larger fall from 0.9243 to 0.8257 projection level.

In the bigger picture, the down trend from 1.0146 (2022 high) is in progress. Next target is 61.8% retracement of 1.0146 to 0.8551 from 0.9243 at 0.8257. Sustained break there could prompt downside acceleration to 100% projection at 0.7648. This will now remain the favored case as long as 0.8819 resistance holds.

Daily Pivots: (S1) 0.9037; (P) 0.9053; (R1) 0.9067; More….

USD/CHF’s fall continues today and reaches as low as 0.9021 so far. Intraday bias stays on the downside for retesting 0.8925 low. On the upside, break of 0.9074 minor resistance will turn intraday bias neutral first. But another fall will remain in favor as long as 55 day EMA (now at 0.9126) holds.

In the bigger picture, failure to sustain above 55 week EMA (now at 0.9183) affirms 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. For now, risk will stay on the downside as long as 0.9273 resistance holds, in case of rebound.

Daily Pivots: (S1) 0.9554; (P) 0.9586; (R1) 0.9631; More….

Intraday bias in USD/CHF remains neutral. And, with 0.9679 resistance intact, outlook stays bearish. Another fall is still expected. Sustained break of 0.9420 will target 61.8% projection of 1.0099 to 0.9437 from 0.9772 at 0.9363 first. Break will target 100% projection at 0.9110 next. However, break of 0.9679 will indicate near term reversal and turn bias to the upside for 0.9772 resistance for confirmation.

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.

Daily Pivots: (S1) 0.9905; (P) 0.9932; (R1) 0.9959; More…

Intraday bias in USD/CHF stays neutral and consolidation from 1.0027 could extend further. But with 0.9843 minor support intact, further rise is still expected. On the upside, break of 1.0027 will resume the rise from 0.9659 for 78.6% retracement of 1.0237 to 0.9659 at 1.0113 next. Break will target retest on 1.0237 high.

In the bigger picture, corrective fall from 1.0237 should have completed at 0.9659 already, 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) 0.9098; (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.

Daily Pivots: (S1) 0.9259; (P) 0.9329; (R1) 0.9428; More…

USD/CHF retreated notably after hitting 0.9397 and intraday bias is turned neutral first. With a short term bottoming in place at 0.9199, on bullish convergence condition in 4 hour MACD, risk will stay mildly on the upside. Above 0.9397 will extend the rebound to 55 day EMA (now at 0.9467) and above.

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. Sustained 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 0.9545 resistance holds.

Daily Pivots: (S1) 1.0089; (P) 1.0106; (R1) 1.0126; More…

USD/CHF weakens mildly after failing to break 4 hour 55 EMA. But it’s staying above 1.0050 temporary low and intraday bias remains neutral. Further decline remains mildly in favor as long as 1.0126 support turned resistance holds. 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.

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.

Daily Pivots: (S1) 0.9333; (P) 0.9401; (R1) 0.9437; More…

USD/CHF dipped to 0.9325 today but quickly recovered. Intraday bias remains neutral first. Near term outlook will remain bearish as long as 0.9597 resistance holds, in case of another recovery. On the downside, firm break of 0.9325 will resume the decline from 1.0146 to 0.9287 fibonacci level.

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) 0.9881; (P) 0.9953; (R1) 0.9996; More…

USD/CHF drops to as low as 0.9902 so far today and intraday bias stays on the downside for 0.9879 key support. Decisive break there will carry larger bearish implications and target 0.9716 support next. On the upside, break of 1.0008 support turned resistance is needed to indicate short term bottoming. Otherwise, outlook will remain mildly bearish in case of recovery.

In the bigger picture, USD/CHF’s break of long term trend line support is the first indication of medium term reversal. Focus is now back on 0.9879 support. Decisive break should add to the case that rise from 0.9186 has completed at 1.0237 already. Further fall should be seen to 0.9716 cluster support (50% retracement of 0.9186 to 1.0237 at 0.9712) next.

Daily Pivots: (S1) 0.8587; (P) 0.8648; (R1) 0.8690; More….

Intraday bias in USD/CHF remains mildly on the downside for 0.8487 minor support. Break there will argue that rebound from 0.8332 has completed at 0.8727, after rejection by 55 D EMA (now at 0.8686). Deeper fall would be seen to retest 0.8332 low. On the upside, firm break of 0.8727 will resume the rebound to 61.8% retracement of 0.9243 to 0.8332 at 0.8995.

In the bigger picture, while rebound from 0.8332 could be strong, there is no clear sign of medium term bottoming yet. This rebound is tentatively seen as a corrective move for now. Also, outlook will stay bearish as long as 0.9243 resistance holds. Larger down trend from 1.0146 (2022 high) should resume through 0.8332 low at a later stage.

Daily Pivots: (S1) 0.9679; (P) 0.9699; (R1) 0.9716; More…

Outlook in USD/CHF remains unchanged. Intraday bias stays neutral as consolidation form 0.9613 is in progress. Upside should be limited by 0.9762 resistance to bring down trend resumption. Below 0.9661 minor support will bring retest of 0.9613 low first. Break will target 100% projection of 1.0237 to 0.9659 from 1.0023 at 0.9445. However, considering bullish convergence condition in 4 hour MACD, break of 0.9762 will indicate near term reversal and turn outlook bullish for stronger rebound to 55 day EMA (now at 0.9781).

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’s rebound from 0.9437 extended to as high as 0.9726 last week. The break of 0.9699 resistance suggests near term reversal after defending 0.9443 key support. Initial bias remains on the upside this week for 38.2% retracement of 1.0342 to 0.9437 at 0.9783 first. Break will target channel resistance (now at 0.9899). On the downside, below 0.9633 minor support will turn intraday bias neutral and bring consolidations 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.

Daily Pivots: (S1) 0.9165; (P) 0.9184; (R1) 0.9218; More….

Intraday bias in USD/CHF remains neutral and outlook is unchanged. 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.

Daily Pivots: (S1) 0.9764; (P) 0.9774; (R1) 0.9785; More…

Intraday bias in USD/CHF remains mildly on the upside as rebound from 0.9613 is still in progress. Next target is 38.2% retracement of 1.0237 to 0.9613 at 0.9851. Reactions from there would unveil whether it’s just a corrective move, or reversing near term trend. On the downside, however, break of 0.9740 minor support will bring retest of 0.9613 low instead.

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.

Daily Pivots: (S1) 0.9813; (P) 0.9848; (R1) 0.9914; More…

USD/CHF’s break of 0.9854 support turned resistance suggests short term bottoming at 0.9695. Intraday bias is turned back to the upside for 1.0014 resistance. But upside could be limited by 61.8% retracement of 1.0237 to 0.9695 at 1.0030. On the downside, below 0.9809 minor support will turn bias back to the downside for retesting 0.9695 low.

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.