Daily Pivots: (S1) 0.8552; (P) 0.8580; (R1) 0.8604; More…

No change in USD/CHF’s outlook. While further decline cannot be ruled out, based on loss of downside momentum as seen in 4H MACD, some support could be seen from 100% projection of 0.9439 to 0.8818 from 0.9146 at 0.8525 to bring rebound. Break of 0.8629 minor resistance will turn bias to the downside for 55 4H EMA (now at 0.8695) and above.

In the bigger picture, the break of 0.8756 (2021 low) indicates break out from the long term range pattern. For now, medium term outlook will stay bearish as long as 0.9146 resistance holds. Further fall would be seen to 61.8% retracement of 0.7065 (2011 low) to 1.0342 (2016 high) at 0.8317 next.

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

USD/CHF’s fall from 0.9471 is still in progress. Intraday bias stays on the downside for 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) 0.9884; (P) 0.9924; (R1) 0.9996; More…

USD/CHF is staying in range of 0.9840/9989 and intraday bias remains neutral. Outlook is unchanged that we’d still expect strong support from 0.9848 to contain downside to complete the correction from 1.0128. On the upside, break of 0.9989 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) 0.9575; (P) 0.9614; (R1) 0.9682; More….

Intraday bias in USD/CHF remains neutral for the moment. Considering it’s close to to 0.9443 key support, consolidation from 0.9427 might extend further. But still, break of 0.9772 resistance is needed to confirm near term reversal. Otherwise, outlook stays bearish for another decline. Below 0.9537 minor support will turn bias back to the downside for retesting 0.9427 first. Break of 0.9427 will resume whole decline from 1.3042.

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) 0.9920; (P) 0.9939; (R1) 0.9970; More…

USD/CHF recovered ahead of 38.2% retracement of 0.9541 to 1.0128 at 0.9904 and intraday bias is turned neutral first. Deeper decline could still be seen and below 0.9908 will target 0.9848 key support level. On the upside, above 1.0006 minor resistance will indicate that the pull back has completed. Intraday bias will be turned back to the upside for retesting 1.0128 high.

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) 0.9679; (P) 0.9708; (R1) 0.9739; More…

Intraday bias in USD/CHF is turned neutral with current recovery. Fall from 0.9884 is seen as a falling leg of the consolidation from 1.0063. Below 0.9652 will target 0.9493 support. On the upside, though, above 0.9788 minor resistance will turn bias back to the upside for 0.9884 resistance.

In the bigger picture, medium term up trend from 0.8756 (2021 low) is still in progress. Next target is 1.0342 (2016 high). Sustained break there will resume long term up trend from 0.7065 (2011 low). This will remain the favored case as long as 0.9471 resistance turned support holds.

Daily Pivots: (S1) 0.9692; (P) 0.9714; (R1) 0.9758; More….

Intraday bias in USD/CHF is back on the upside with break of 0.9758 temporary top. Current rally should target next medium term projection level at 0.9864. On the downside, however, break of 0.9669 minor support should indicate short term bottoming, and turn bias back to the downside for deeper pull back.

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 100% projection of 0.8756 to 0.9471 from 0.9149 at 0.9864. This will now remain the favored case as long as 0.9459 resistance turned support holds.

Daily Pivots: (S1) 0.9967; (P) 1.0001; (R1) 1.0025; More…

Intraday bias in USD/CHF remains neutral first, with focus on 1.0067. Break of 1.0067 resistance will resume the larger rise from 0.9186. USD/CHF should then target 61.8% projection of 0.9186 to 1.0056 from 0.9787 at 1.0325, which is close to 1.0342 key resistance. However, break of 0.9926 will dampen the bullish view again.

In the bigger picture, rise from 0.9186 is seen as a leg inside the long term range pattern. After drawing support from 55 day EMA, it’s now resuming for 1.0342 key resistance. For now, we’d still cautious on strong resistance from there to limit upside. Meanwhile, break of 0.9787 support is needed to signal completion of the rise. Otherwise, outlook will remain bullish even in case of deep pull back.

USD/CHF retreated again after edging higher to 0.8727 last week. Initial bias stays neutral this week first. On the downside, below 0.8605 will resume the pull back from 0.8727 to 0.8487 support. Break there will argue that rebound from 0.8332 has completed, and bring retest of this 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 instead.

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.

In the long term picture, there is no clear sign that down trend from 1.8305 (2000 high) has completed. With 38.2% retracement of 1.8305 to 0.7065 at 1.1359 intact, outlook is neutral at best.

USD/CHF’s rally continued last week and reached as high as 0.9758. Initial bias stays on the upside this week. Rise from 0.9186 should target 0.9900 fibonacci level next. On the downside, below 0.9702 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.

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) 0.9660; (P) 0.9678; (R1) 0.9690; More…

A temporary low is formed at 0.9646 as USD/CHF recovered after drawing support form 0.9659 support Intraday bias is turned neutral first. Further decline is in favor as long as 0.9770 support turned resistance holds. Break of 0.9646 will target 0.9541. Nevertheless, on the upside, break of 0.9770 will indicate short term bottoming and turn bias to the upside for 55 day EMA (now at 0.9857) instead.

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) 0.9852; (P) 0.9873; (R1) 0.9887; More…

Intraday bias in USD/CHF remains on the downside for 0.9841 support. Firm break there will complete a head and shoulder top pattern (ls: 0.9983; h: 1.0027; rs: 0.9970). That should confirm completion of rise from 0.9659 and turn outlook bearish for retest this low. On the upside, above 0.9970 will bring retest of 1.0027 resistance first.

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) 1.0084; (P) 1.0107; (R1) 1.0141; More…..

USD/CHF’s rise resumed after brief consolidation and took out 1.0145 resistance. The pair reaches as high as 1.0164 so far. Intraday bias is back on the upside. Rebound form 0.9860 should target a test on 1.0342 key resistance next. As noted before, based on neutral medium term outlook, we’d be cautious on topping at around 1.0342. On the downside, break of 1.0008, however, will indicate completion of the rebound from 0.9860. And intraday bias will be turned back to the downside for 0.9860.

In the bigger picture, prior rejection from 1.0327 resistance argues that USD/CHF is staying in a medium term sideway pattern. 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) 0.9147; (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) 0.9942; (P) 0.9980; (R1) 1.0003; More…..

Intraday bias in USD/CHF remains on the downside for the moment. Current fall from 1.0342 would extend to 100% projection of 1.0342 to 0.9860 from 1.0099 at 0.9617 on breaking of lower trend line support. On the upside, above 0.9849 minor resistance will turn bias neutral and bring consolidation before staging another decline.

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) 0.9750; (P) 0.9773; (R1) 0.9805; More….

The break of 0.9772 resistance, and sustained trading above medium term channel resistance, argues that fall from 1.0342 is already completed. And the trend is reversing. intraday bias is now on the upside for 61.8% retracement of 1.0342 to 0.9420 at 0.9990. On the downside, break of 0.9708 support will dampen this bullish view and turn focus back to 0.9587 support instead.

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.

Daily Pivots: (S1) 0.9885; (P) 0.9904; (R1) 0.9918; More…

Intraday bias in USD/CHF remains neutral for the moment. On the upside, decisive break of 0.9975 key resistance will confirm completion of fall form 1.0237. Further rally would then be seen to retest this high. On the downside, though, break of 0.9854 will turn intraday bias to the downside for 0.9659 low.

In the bigger picture, the structure of the fall from 1.0237 suggests that it’s a corrective move. Sustained 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) 0.9239; (P) 0.9300; (R1) 0.9333; More…

Intraday bias in USD/CHF remains neutral as range trading continues. Further decline is still in favor as long as 0.9407 resistance holds. Break of 0.9165 will resume whole fall from 1.0146. However, firm break of 0.9407 will turn bias back to the upside for strong rebound.

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 should be a medium term down trend itself. Next target is a test on 0.8756 low. Strong support should be seen there to bring rebound. Still, further decline will now be expected as long as 0.9407 resistance holds, in any case.

Daily Pivots: (S1) 1.0030; (P) 1.0064; (R1) 1.0085; More….

USD/CHF rebounds strongly in early US session but stays below 1.0098 temporary top. Intraday bias remains neutral first. In any case, further rally is expected as long as 0.9988 support holds. On the upside, above 1.0098 will target 1.0128 first. Break will confirm resumption of up trend from 0.9186. Next target will be 100% projection of 0.9541 to 1.0128 from 0.9716 at 1.0303. However, break of 0.9988 will indicate rejection by 1.0128 and turn intraday bias to the downside for 0.9716 support again.

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.

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.