Daily Pivots: (S1) 0.9882; (P) 0.9911; (R1) 0.9959; More…

Intraday bias in USD/CHF remains neutral first. On the upside, break of 1.0008 resistance will indicate that the pull back from 1.0128 has completed. Intraday bias would be turned back to the upside for retesting 1.0128 first. On the downside, below 0.9862 will target 0.9848 support first. Sustained break there will confirm near term reversal and target 61.8% retracement of 0.9541 to 1.0128 at 0.9765 and below.

In the bigger picture, rise from 0.9541 could have topped at 1.0128. But as long as 0.9541 support holds, we’d still expect rise from 0.9186 to resume at a later stage. Break of 1.0128 will target 1.0342 key resistance. However, break of 0.9514 will pave the way back to 0.9186 low.

Daily Pivots: (S1) 0.9825; (P) 0.9892; (R1) 0.9945; More…

USD/CHF dropped sharply after failing to break through 0.9989 resistance. Focus is back on 0.9848 key support level. For now, we’d still expect strong support from 0.9848 to contain downside to complete the correction from 1.0128. On the upside, break of 0.9963 resistance will argue that such correction is completed. Intraday bias will be turned back to the upside for retesting 1.0128 high. However, decisive break of 0.9848 support will bring deeper decline to 0.9541 key support instead.

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, firm break of 0.9848 support will dampen this bullish view and turn focus back to 0.9541 key support instead.

Daily Pivots: (S1) 0.9147; (P) 0.9187; (R1) 0.9220; More…

Further fall is expected in USD/CHF with 0.9230 minor resistance intact, despite loss of downside momentum as seen in 4 hour MACD. Current decline should now target next fibonacci projection level at 0.9081. On the upside, break of 0.9230 minor resistance will turn intraday bias neutral again. But outlook will remain bearish as long as 0.9362 support turned resistance holds, in case of recovery.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). Current development suggests that such pattern is still extending. Based on current down side momentum, break of 0.9181 will target 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081. Firm break there will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9362 resistance is needed to be the first sign of medium term bottoming too.

Daily Pivots: (S1) 0.9571; (P) 0.9604; (R1) 0.9631; More…

Intraday bias in USD/CHF remains on the upside despite slight retreat from 0.9697. Current rally from 0.9186 should target 0.9900 fibonacci level next. On the downside, break of 0.9576 minor support is needed to be the first sign of short term topping. Otherwise, outlook will remain bullish in case of deeper retreat.

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.

Daily Pivots: (S1) 0.9618; (P) 0.9668; (R1) 0.9697; More…

USD/CHF recovers again after hitting 0.9638 and intraday bias is turned neutral. Overall outlook is unchanged that corrective pattern from 0.9901 is still in progress. Another fall cannot be ruled out and break of 0.9638 will target 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 0.9784 resistance will target 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.

Daily Pivots: (S1) 0.9627; (P) 0.9671; (R1) 0.9720; More…

Intraday bias in USD/CHF turned neutral with 4 hour MACD crossed above signal line. Another fall cannot be ruled out. But decline from 1.0048 is viewed as the third leg of the corrective pattern from 1.0063. Strong support should be seen at around 0.9543 to contain downside to bring rebound. On the upside, above 0.9815 minor resistance will turn bias back to the upside for retesting 1.0063 resistance.

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) 0.8836; (P) 0.8905; (R1) 0.8974; More…

USD/CHF is bounded in range of 0.8818/8993 and intraday bias stays neutral. While down trend from 1.0146 could still extend lower, strong support should be seen from 61.8% projection of 1.0146 to 0.9058 from 0.9439 at 0.8767, which is close to 0.8756 long term support, to bring rebound, at least on first attempt. On the upside, break of 0.8993 resistance will indicate short term bottoming, on bullish convergence condition in 4H MACD, and turn bias back to the upside for stronger rebound.

In the bigger picture, fall from 1.1046 (2022 high) is seen 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. Sustained break of 0.9058 support turned resistance will be the first sign of medium term bottoming. However, decisive break of 0.8756 will carry larger bearish implications.

USD/CHF dropped to as low as 0.9881 last week but lost momentum ahead of 0.9860 support and recovered. With a temporary low formed, some consolidations could be seen. But overall outlook is unchanged. That’s is, whole fall from 1.0342 is not completed yet and another decline is in favor through 0.9860.

Initial bias in USD/CHF stays neutral this week first. Deeper fall is expected as long as 1.0002 minor resistance holds. Break of 0.9860 will extend the fall from 1.0342 to 100% projection of 1.0342 to 0.9860 from 1.0169 at 0.9687 and possibly below. However, break of 1.0002 will argue that fall from 1.0169 is finished and will turn bias back to the upside for this resistance instead.

In the bigger picture, USD/CHF is staying in medium term sideway pattern between 0.9443/1.0342. In any case, decisive break of 1.0342 resistance is needed to confirm underlying strength. Otherwise, we’ll stay neutral in the pair first. In case of another fall, we’d expect strong support from 0.9443/9548 support zone.

Meanwhile firm break of 1.0342 will target 38.2% retracement of 1.8305 to 0.7065 at 1.1359.

Daily Pivots: (S1) 0.8779; (P) 0.8816; (R1) 0.8848; More….

USD/CHF’s decline is still in progress and intraday bias stays on the downside. Further fall should be seen to 61.8% projection of 0.9901 to 0.8998 from 0.9304 at 0.8746. Break will pave the way to long term projection level at 0.8639. In any case, outlook will remain bearish as long as 0.8918 resistance holds.

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. Next target will be 138.2% projection of 1.0342 to 0.9186 from 1.0237 at 0.8639. In any case, break of 0.9304 resistance is needed to signal medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.0035; (P) 1.0077; (R1) 1.0105; More…

Intraday bias in USD/CHF remains on the downside for the moment. Current fall from 1.0237 would extend to retest 0.9879 key support. On the upside, break of 1.0126 support turned resistance is needed to indicate completion of the fall from 1.0237. Otherwise, risk will now stay on the downside in case of recovery.

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) 1.0079; (P) 1.0094; (R1) 1.0115; More…

USD/CHF is staying in consolidation from 1.0050 temporary low for now. Intraday bias stays neutral first. In case of another rise, upside of recovery should be limited by 1.0126 minor resistance to bring fall resumption. 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) 0.9252; (P) 0.9270; (R1) 0.9300; More….

USD/CHF is still bounded in range trading below 0.9367 and intraday bias remains neutral. As long as 0.9214 support holds, further rally is in favor. On the upside, break of 0.9367 will resume the rise from 0.8925 to 0.9471 key resistance next. On the downside, however, break of 0.9214 will turn bias back to the downside for 0.9017 support again.

In the bigger picture, the strong rally above 55 week EMA (now at 0.9188) 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) 0.9727; (P) 0.9747; (R1) 0.9768; More…..

Intraday bias in USD/CHF remains neutral as it’s still bounded in the consolidation from 0.9613. As long as 0.9807 resistance holds, near term outlook remains bearish and deeper fall is expected. Below 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.

Daily Pivots: (S1) 0.9161; (P) 0.9180; (R1) 0.9220; More….

USD/CHF rises to as high as 0.9252 so far today and intraday bias stays on the upside. Next target is 0.9295 resistance and break will carry larger bullish implications. Rise from 0.8756 should then target 61.8% retracement of 0.9901 to 0.8756 at 0.9464. On the downside, break of 0.9135 minor support will turn intraday bias neutral again. But further rally is expected as long as 0.9044 resistance turned support holds.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 high). Firm break of 0.9295 resistance, and sustained trading above 55 week EMA (now at 0.9227), will suggest that the pattern has completed. In this case, further rise could be seen back to 1.0237/0342 resistance zone in the medium term. Though, rejection by 0.9295 will retain medium term bearishness for 138.2% projection of 1.0342 to 0.9186 from 1.0237 at 0.8639.

USD/CHF’s range trading continued last week and outlook is unchanged. Initial bias remains neutral this week first. On the upside, break of 0.8925 will resume the rebound from 0.8756, to 0.8998 support turned resistance next. On the downside, break of 0.8821 minor support will retain near term bearishness. Intraday bias will be turned back to the downside for retesting 0.8756 low next.

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. Next target will be 138.2% projection of 1.0342 to 0.9186 from 1.0237 at 0.8639. In any case, break of 0.9295 resistance is needed to signal medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

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.

Daily Pivots: (S1) 0.9543; (P) 0.9593; (R1) 0.9644; More…

Intraday bias in USD/CHF stays neutral and outlook is unchanged. Price actions from 1.0063 are still seen as a consolidation pattern. On the upside, break of 0.9731 resistance will argue that such consolidation has completed and bring stronger rally back to retest 1.0063 high. However, another fall below 0.9493 will dampen this view and target 0.9459 resistance turned 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) 0.9892; (P) 0.9930; (R1) 0.9952; More….

Intraday bias in USD/CHF remains on the downside at this point. Deeper fall should be seen to 100% projection of 1.0067 to 0.9866 from 0.9981 at 0.9780 and possibly below. But fall from 1.0067 is see as the third leg of the consolidation pattern from 1.0056. Hence, we’d expect strong support from 38.2% retracement of 0.9186 to 1.0056 at 0.9724 to bring rebound. On the upside, break of 0.9981 will bring retest of 1.0067 resistance.

In the bigger picture, current development suggests that the consolidation pattern from 1.0056 is extending. 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 fibonacci level will bring deeper fall, as another declining leg in the long term range pattern.

Daily Pivots: (S1) 0.9860; (P) 0.9915; (R1) 0.9949; More….

No change in USD/CHF’s outlook. As long as 0.9835 resistance turned support holds, further rally is expected. Break of 1.0047 will extend the rise from 0.9420 and target 1.0342 high. However, sustained break of 0.9835 will argue that whole rebound form 0.9420 is completed and turn outlook bearish.

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.

Daily Pivots: (S1) 1.0037; (P) 1.0061; (R1) 1.0080; More…

Intraday bias in USD/CHF remains neutral with focus on 1.0094 resistance. Decisive break there and sustained trading above 1.0067 will confirm resumption of whole rise from 0.9541. USD/CHF should then target 1.0342 key resistance next. In case of another fall through 0.9952, downside should be contained by 38.2% retracement of 0.9541 to 1.0094 at 0.9883 to contain downside to bring rebound.

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, firm 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) 0.9013; (P) 0.9051; (R1) 0.9124; More….

Intraday bias in USD/CHF remains on the upside at this point. Sustained trading above 38.2% retracement of 0.9471 to 0.8925 at 0.9134 will target 61.8% retracement at 0.9262. On the downside, below 0.9074 minor support will turn intraday bias neutral, and bring consolidations first, before staging another rally.

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 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.