USD/CHF’s rebound last week was limited below 0.9802 resistance. Initial bias remains neutral this week first. Corrective pattern from might extend further. Break of 0.9681 minor support will turn bias to the downside for 0.9588 support and below. Overall, downside should be contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound. On the upside, break of 0.9802 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.

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.

Daily Pivots: (S1) 0.8678; (P) 0.8717; (R1) 0.8766; More….

USD/CHF is staying in consolidation from 0.8665 and intraday bias stays neutral. Another fall is in favor as long as 0.8769 minor resistance holds. Below 0.8665 will resume the decline from 0.9243 to 161.8% projection of 0.9243 to 0.8886 from 0.9111 at 0.8533, which is close to 0.8551 low. However, break of 0.8769 minor resistance should indicate short term bottoming, and turn bias back to the upside for stronger recovery.

In the bigger picture, price actions from 0.8551 are currently seen as part of a corrective pattern to the decline from 1.0146 (2022 high). Fall from 0.9243 is seen as the second leg for now. Deeper decline could be seen to 0.8551 low but strong support should be seen there to bring rebound. For now, this will remain the favored case as long as 0.8886 support turned resistance holds.

Daily Pivots: (S1) 0.9199; (P) 0.9217; (R1) 0.9246; More….

Intraday bias in USD/CHF remains neutral first. We’d continue to expect strong support from 38.2% retracement of 0.8756 to 0.9471 at 0.9198 to bring rebound. On the upside, above 0.9258 will turn bias to the upside for retesting 0.9471. However, sustained break of 0.9198 will bring deeper fall to 61.8% retracement at 0.9029.

In the bigger picture, fall from 1.0237 should have completed at 0.8756, on bullish convergence 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. However, sustained trading below 55 day EMA (now at 0.9192) will revive medium term bearishness for down trend extension through 0.8756 at a later stage.

Daily Pivots: (S1) 0.9203; (P) 0.9224; (R1) 0.9257; More…

USD/CHF’s rebound from 0.8998 is still in progress and intraday bias stays on the upside. Next target is 38.2% retracement of 0.9901 to 0.8998 at 0.9343. On the upside, break of 0.9171 minor support will turn intraday bias neutral first.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low), which is still extending. Sustained trading below 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081 will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9376 resistance is needed to be the first sign of medium term bottoming.

Daily Pivots: (S1) 0.9066; (P) 0.9082; (R1) 0.9102; More…

USD/CHF recovers mildly today but stays in consolidation form 0.9030. Intraday bias remains neutral at this point. In case of stronger recovery, upside should be 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. However, break of 0.9165 will invalidate this bearish view and turn bias back to the upside for 0.9304 resistance.

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 dropped through 0.9376 last week to resume the decline from 0.9901. But as a temporary low was formed at 0.9362, initial bias is neutral this week first. Further fall is expected as long as 0.9453 resistance holds. On the downside, break of 0.9362 will target 100% projection of 0.9901 to 0.9502 from 0.9736 at 0.9337. Sustained break there will pave the way to retest 0.9181 low. However, firm break of 0.9453 will turn bias back to the upside for 0.9532 resistance 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 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.

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.

Daily Pivots: (S1) 0.9034; (P) 0.9072; (R1) 0.9127; More…

Intraday bias in USD/CHF remains neutral for the moment. On the downside, break of 0.8983 will revive the case that corrective rebound from 0.8818 has completed at 0.9146. Intraday bias will be back to the downside for deeper fall back to retest 0.8818 low. On the upside, however, break of 0.9146 will resume the rebound from 0.8818 instead.

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), which might have completed at 0.8818 already, just ahead of 0.8756 long term support. Sustained trading above 0.9058 support turned resistance should confirm medium term bottoming. Further break of 0.9439 resistance will confirm bullish trend reversal.

USD/CHF’s fall from 1.0237 resumed last week and reached as low as 0.9756. Initial bias remains on the downside this week for 0.9716 support first. Break will target 0.9587 fibonacci level next. On the upside, break of 0.9838 minor resistance will turn intraday bias neutral and bring consolidations. But recovery should be limited well below 1.0014 resistance to bring fall resumption.

In the bigger picture, current development confirms that up trend from 0.9186 (2018 low) has completed at 1.0237 already. With 38.2% retracement of 0.9186 to 1.0237 at 0.9836 taken out, deeper fall should be seen to 61.8% retracement at 0.9587 and below. We’d pay attention to bottoming signal below 0.9587.

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.

Daily Pivots: (S1) 0.9783; (P) 0.9813; (R1) 0.9831; More…

Intraday bias in USD/CHF remains mildly on the downside at this point. Current fall from 1.0023 should target test on 0.9659 low. However, considering bullish convergence condition in 4 hour MACD, break of 0.9876 will indicate short term bottoming. In such case, intraday bias will be turned back to the upside for 55 day EMA (now at 0.9899) and above.

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) 0.9117; (P) 0.9145; (R1) 0.9165; More….

USD/CHF is staying in consolidation above 0.9121 temporary low and intraday bias remains neutral. Deeper decline is expected with 0.9194 minor resistance holds. Below 0.9121 will resume the fall from 0.471 for 61.8% retracement of 0.8756 to 0.9471 at 0.9029 next. On the upside, though, break of 0.9194 resistance will indicate short term bottoming. Intraday bias will be turned back to the upside for 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) 0.9826; (P) 0.9843; (R1) 0.9870; More…

Intraday bias in USD/CHF remains neutral for the moment. Further decline is in favor with 0.9908 resistance intact. Below 0.9803 will extend the fall from 0.9951 to retest 0.9695 low. On the upside, break of 0.9908 resistance would resume the rebound from 0.9695, through 0.9951, to 1.0014 resistance.

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. However, sustained break of 1.0014 will revive medium term bullishness and turn focus back to 1.0237 high.

Daily Pivots: (S1) 0.9024; (P) 0.9059; (R1) 0.9087; More…

USD/CHF’s break of 0.8983 support indicate resumes of fall from 0.9146. The development also revives that case that corrective rebound from 0.8818 has completed at 0.9146. Intraday bias is back on the downside for retesting 0.8818 low. For now, risk will stay on the downside as long as 0.9146 resistance holds.

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), which might have completed at 0.8818 already, just ahead of 0.8756 long term support. Sustained trading above 0.9058 support turned resistance should confirm medium term bottoming. Further break of 0.9439 resistance will confirm bullish trend reversal.

Daily Pivots: (S1) 0.9693; (P) 0.9718; (R1) 0.9748; More…

USD/CHF’s break of 0.9686 minor support suggests completion of rebound from 0.9502. Correction from 0.9901 should have then started the third leg. Intraday bias is now on the downside for 61.8% retracement of 0.9181 to 0.9901 at 0.9456 again. On the upside, above 0.9797 will target 0.9901 high 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). Further rise could be seen to retest 1.0237 high. After all, medium term range trading will likely continue between 0.9181/1.0237 for some time.

USD/CHF rebounded strongly last week but failed to break through 0.9207 resistance and retreated. Initial bias remains neutral this week first, and further rise is mildly in favor as long as 0.9115 minor support holds. On the upside, decisive break of 0.9207 would be an early sign of bullish reversal and target 0.9304 resistance for confirmation. On the downside, below 0.9115 minor support will turn bias back to the downside for 0.8982 low 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 0.9304 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.

Daily Pivots: (S1) 0.8967; (P) 0.8982; (R1) 0.9010; More….

Intraday bias in USD/CHF stays neutral at this point. On the downside, below 0.8952 will target a test on 0.8886 support first. Break there will resume whole decline from 0.9243 to 0.8815 fibonacci level. However, break of 0.9111 will resume the rebound from 0.8886 instead, and target 0.9243 resistance.

In the bigger picture, outlook is mixed up by the deeper than expected pull back from 0.9243. Yet there was no follow through selling after hitting 0.8886. On the upside, break of 0.9243 resistance will revive the case of medium term bottoming at 0.8851, and turn outlook bullish. However, sustained break of 61.8% retracement of 0.8551 to 0.9243 at 0.8815 will argue that larger decline from 1.0146 is ready to resume through 0.8551 low.

Daily Pivots: (S1) 0.9901; (P) 0.9924; (R1) 0.9942; More….

USD/CHF is staying in consolidation from 0.9990 and intraday bias remains neutral. In case of deeper fall, downside should be contained by 0.9856 resistance turn support to bring another rally. As note before, corrective pull back from 1.0128 has completed at 0.9716 already. Above 0.9990 will extend the rise from 0.9716 to retest 1.0128 high.

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.

Daily Pivots: (S1) 0.9677; (P) 0.9730; (R1) 0.9758; More…

USD/CHF’s decline from 0.9868 accelerates to as low as 0.9546 so far. Current fall is seen as the corrective pattern from 1.0063. Intraday bias stays on the downside for 0.9369 support. On the upside above 0.9707 minor resistance will turn intraday bias neutral first.

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) 0.8788; (P) 0.8813; (R1) 0.8835; More….

Intraday bias in USD/CHF remains neutral at this point, and more consolidations could be seen below 0.8884. Nevertheless, further rally is expected as long as 0.8727 resistance turned support holds. On the upside, break of 0.8885 will resume the rise from 0.8332 and target and 100% projection of 0.8332 to 0.8727 from 0.8550 at 0.8954. However, sustained break of 0.8727 will dampen this bullish view, and turn bias back to the downside for 0.8550 support instead.

In the bigger picture, a medium term bottom should be formed at 0.8332, on bullish convergence condition in W MACD, just ahead of 0.8317 long term fibonacci support. It’s still early to decide if the larger down trend from 1.0146 (2022 high) is reversing. But further rise should be seen to 0.9243 resistance even as a correction.

USD/CHF’s fall from 0.9471 extended to as low as 0.9002 last week. Initial bias stays on the downside this week for deeper decline. Sustained trading below 61.8% retracement of 0.8756 to 0.9471 at 0.9029 will pave the way to retest 0.8756 low. On the upside, break of 0.9163 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain mildly bearish in case of recovery.

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.

Daily Pivots: (S1) 1.0007; (P) 1.0018; (R1) 1.0037; More….

Intraday bias in USD/CHF remains neutral for consolidation below 1.0028 temporary top. In case of deeper retreat, downside should be contained by 0.9908 to bring another rally. As noted before, corrective decline from 1.0128 should have completed at 0.9716 already, after hitting trend line support. On the upside, above 1.0028 will resume the rise from 0.9716 to retest 1.0128 high first.

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. 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.