Daily Pivots: (S1) 0.9233; (P) 0.9271; (R1) 0.9299; More…

Range trading continues in USD/CHF and intraday bias stays neutral at this point. Further decline is in favor with 0.9378 resistance intact. On the downside, break of 0.9214 will resume the fall and target 61.8% projection of 1.0146 to 0.9355 from 0.9545 at 0.9056. However, break of 0.9378 resistance will indicate short term bottoming and turn bias back to the upside for 0.9545 resistance instead.

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) 0.9159; (P) 0.9196; (R1) 0.9255; More…

Outlook in USD?CHF remains unchanged and intraday bias stays neutral. On the upside, firm break of 0.9289 resistance will confirm short term bottoming at 0.9058, and bring stronger rise to 0.9407 resistance. On the downside, however, sustained break of 0.9058 will resume larger decline from 1.0146 instead.

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 be expected as long as 0.9407 resistance holds, in any case.

Daily Pivots: (S1) 0.9205; (P) 0.9219; (R1) 0.9244; More….

Intraday bias in USD/CHF stays on the upside, as rise form 0.9017 is targeting a test on 0.9273 resistance. Sustained break there will resume rise from 0.8925 to 100% projection of 0.8925 to 0.9273 from 0.9017 at 0.9365. On the downside, break of 0.9193 minor support will mixed up the outlook and turn intraday bias neutral first.

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) 0.9287; (P) 0.9329; (R1) 0.9355; More….

Intraday bias in USD/CHF remains neutral for the moment. On the upside, firm break of 0.9380 should confirm that fall from 0.9459 has completed with three wave down to 0.9193. Such development will revive near term bullishness and turn bias back to the upside for 0.9459 and then 0.9471 resistance. On the downside, below 0.9280 minor support will turn bias to the downside for 0.9193 support next.

In the bigger picture, medium term outlook will be neutral at best as long as 0.9471 resistance holds. Larger down trend could still extend through 0.8756 (2021 low). However, firm break of 0.9471 will argue that whole down trend form 1.0342 (2016 high), has completed with waves down to 0.8756. A medium term up trend should be set up to target 1.0237/0342 resistance zone.

Daily Pivots: (S1) 0.9593; (P) 0.9647; (R1) 0.9698; More…

Intraday bias in USD/CHF stays mildly on the upside for 0.9797 resistance. Break there will resume the rebound from 0.9502 for retesting 0.9901 high. On the downside, below 0.9592 will extend the consolidation from 0.9901 with another fall to 0.9502. Overall, downside should contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound.

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.

Daily Pivots: (S1) 0.9972; (P) 1.0003; (R1) 1.0047; More…

USD/CHF retreated after touching 1.0030 minor resistance and intraday bias stays neutral first. On the upside, break of 1.0030 minor resistance will suggest that pull back from 1.0146 has completed at 0.9840. Bias will be back on the upside for retesting 1.0146. Firm break there will resume larger up trend to 1.0283 projection level. However, break of 0.9840 support will now be a sign of reversal, and bring deeper decline back to 0.9779 support instead.

In the bigger picture, current development suggests that up trend from 0.8756 (2021 low) is still in progress. Next target is 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 0.9779 support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.2429; (P) 1.2462; (R1) 1.2523; More…

GBP/USD’s breach of 1.2505 resistance argues that pull back from 1.2614 has completed at 1.2365 already. Intraday bias is back on the upside for 1.2614 resistance first. Break there will resume whole rise from 1.2108 and target 100% projection of 1.2108 to 1.2614 from 1.2365 at 1.2871. But overall, price actions from 1.1946 low are viewed as a consolidation pattern. We’d expect strong resistance around 55 week EMA (now at 1.3015) to limit upside and bring down trend resumption. But for now, further rise will be favored in near term as long as 1.2365 support holds.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term reversal yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 0.9899; (P) 0.9925; (R1) 0.9942; More…

USD/CHF’s rebound and break of 0.9957 minor resistance suggests that pull back from 1.0067 has completed at 0.9900. More importantly, the actions from 0.9787 maintain a higher-low, higher-high pattern and near term bullishness is retained. Intraday bias is back on the upside for retesting 1.0067 first. Break will resume whole rally from 0.9186.

In the bigger picture, as long as 0.9787 support holds, we’re still favoring the bullish case. That is, rise fro 0.9787 is resuming the whole up trend from 0.9186 and should target 1.0342 key resistance on resumption. However, break of 0.9787 will indicate medium term reversal and turn outlook bearish.

Daily Pivots: (S1) 0.9083; (P) 0.9106; (R1) 0.9126; More…

USD/CHF is still staying below 0.9165 resistance despite current rebound. Intraday bias remains neutral first. On the upside, firm break of 0.9165 resistance will suggest that consolidation pattern from 0.8998 is extending with another rising leg. Intraday bias will be turned back to the upside for 0.9304 resistance. On the downside, break of 0.9030 will bring retest of 0.8998 low.

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.

Daily Pivots: (S1) 0.8901; (P) 0.8950; (R1) 0.8979; More…

USD/CHF is still bounded in range above 0.8900 temporary low and intraday bias stays neutral. Further decline is expected as long as 0.9000 resistance holds. Break of 0.8900 will target 0.8818 and possibly below. But strong support is still expected from 0.8756 to bring reversal. Meanwhile, above 0.9000 will turn bias back to the upside for 0.9146 resistance 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.

Daily Pivots: (S1) 0.8983; (P) 0.9020; (R1) 0.9091; More….

USD/CHF’s break of 0.9044 resistance indicates resumption of rebound from 0.8756. Intraday bias is back on the upside for 100% projection of 0.8756 to 0.9044 from 0.8869 at 0.9127 next. On the downside, below 0.8993 minor support will turn intraday bias neutral again first.

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.

Daily Pivots: (S1) 0.9713; (P) 0.9741; (R1) 0.9768; More…

Intraday bias in USD/CHF remains neutral first while consolidation pattern from 0.9901 might extend. On the downside, break of 0.9712 minor support should start the third leg. Intraday bias will be turned to the downside for 0.9592 support first. In this case, downside should be contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound. On the upside, break of 0.9502 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) 0.9486; (P) 0.9509; (R1) 0.9532; More…

Intraday bias in USD/CHF is turned neutral first with 4 hour MACD crossed below signal line. But further rise is expected as long as 0.9337 support holds. As noted before, the head and shoulder bottom formation (ls: 0.9254, h: 0.9186, rs: 0.9337) suggests near term reversal. Rise from 0.9186 should target 100% projection of 0.9186 to 0.9490 from 0.9337 at 0.9641 first. On the downside, break of 0.9337 minor support is needed to indicate completion of the rebound. Otherwise, near term outlook will be cautiously bullish even in case of retreat.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. Current development is raising the chance that it is completed. But there is no confirmation yet. Focus will now be back on 38.2% retracement of 1.0342 (2016 high) to 0.9186 (2018 low) at 0.9626. Sustained break there will add much credence to the case of trend reversal and target 61.8% retracement at 0.9900 and above). However, rejection from 0.9626 will maintain medium term bearishness for another low below 0.9186.

Daily Pivots: (S1) 0.9079; (P) 0.9139; (R1) 0.9180; More…

Intraday bias in USD/CHF stays neutral at this point. With 0.9241 resistance intact, further fall is still expected. On the downside, break of 0.9050 will resume larger down trend. Though, break of of 0.9241 will confirm short term bottoming and turn bias to the upside for 0.9376 support turned resistance.

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. Sustain 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) 0.9256; (P) 0.9285; (R1) 0.9302; More….

Intraday bias in USD/CHF remains neutral at this point. On the downside, break of 0.9233 will bring deeper correction. But overall outlook will stay bullish as long as 0.9044 resistance turned support holds. On the upside, above 0.9323 minor resistance will bring retest of 0.9374 high.

In the bigger picture, current development argues that fall from 1.0237 has completed at 0.8756, on bullish 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. This will now remain the favored case as long as 0.9044 resistance turned support holds.

USD/CHF edged higher to 0.9769 last week but failed to take out 0.9772 key near term resistance. Also, upside was limited below 55 week EMA (now at 0.9777). Initial bias remains neutral this week first. On the upside, decisive break of 0.9772 will suggest that whole down trend form 1.0342 has completed after defending 0.9443 key support again. That would also complete a double bottom pattern (0.9437, 9420). In that case, near term outlook will be turned bullish for 0.9860/1.0099 resistance zone first. Nonetheless, with 0.9772 resistance intact, outlook remains bearish. Below 0.9587 minor support will turn bias back to the downside for retesting 0.9420 low.

In the bigger picture, focus remains on whether 0.9443 key support (2016 low) would be taken out firmly as down trend from 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) 0.9986; (P) 1.0017; (R1) 1.0067; More…

Intraday bias in USD/CHF remains neutral at this point. Considering bearish divergence condition in 4 hour MACD, a short term top is possibly in place at 1.0094. On the downside, below 0.9968 will extend the decline from 1.0094 into 0.9848/9954 support zone. On the upside, though, break of 1.0094 and sustained trading above 1.0067 will confirm resumption of larger rise from 0.9186 and should target 1.0342 key resistance next.

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 resistance will dampen this view and bring deeper decline back to 0.9541 support and possibly below.

Daily Pivots: (S1) 0.9657; (P) 0.9678; (R1) 0.9701; More…

Intraday bias in USD/CHF stays neutral at this point. On the downside, break of 0.9592 will bring deeper decline. 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 0.9797 will bring retest of 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) 0.9852; (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) 0.9390; (P) 0.9415; (R1) 0.9444; More….

USD/CHF’s rally is still in progress and intraday bias stays on the upside. Current rise from 0.8756 should target 61.8% retracement of 0.9901 to 0.8756 at 0.9464. Break there will target 0.9901 resistance next. On the downside, below 0.9369 minor support will turn intraday bias neutral again. But overall outlook will remain bullish as long as 0.9221 support holds.

In the bigger picture, fall from 1.0237 should have completed at 0.8756, on bullish 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. This will now remain the favored case as long as 0.9044 resistance turned support holds.