Daily Pivots: (S1) 0.9913; (P) 0.9931; (R1) 0.9956; More…

Intraday bias in USD/CHF remains neutral with focus on 0.9983 resistance. Decisive break there should confirm completion of whole fall from 1.0237. Further rise should then be seen to retest 1.0237. On the downside, break of 0.9843 will turn bias back to the downside for 0.9798 support.

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) 0.9207; (P) 0.9253; (R1) 0.9290; More…

USD/CHF continues to lose downside momentum, but there is no sign of bottoming yet. Intraday bias stays mildly on the downside for 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) 0.9033; (P) 0.9052; (R1) 0.9074; More…

Intraday bias in USD/CHF stays neutral for consolidation above 0.9303 temporary low. Further fall is expected as long as 0.9165 resistance holds. Below 0.9030 will target 0.8998 low first. Break will resume larger down trend for 61.8% projection of 0.9901 to 0.8998 from 0.9304 at 0.8746. However, break of 0.9165 resistance will delay the bearish case. Intraday bias will be turned back to the upside to extend the consolidation from 0.8998 with another rising leg.

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) 0.9179; (P) 0.9203; (R1) 0.9226; More….

Intraday bias in USD/CHF remains neutral at this point. On the downside, break of 0.9149 will turn focus to 0.9098 support. Break there will target further decline to 0.9017 support. On the upside, break of 0.9239/41 will target 0.9273 resistance instead.

In the bigger picture, USD/CHF is still struggling around 55 week EMA (now at 0.9178) and outlook is mixed for now. Confirmed rejection by the 55 week EMA will retain medium term bearishness. That is, larger fall from 1.0342 would resume through 0.8756 low at a later stage. However, sustained trading above 55 week EMA will tilt favor to the case of bullish reversal. Focus would then be turned to 0.9471 resistance for confirmation.

Daily Pivots: (S1) 0.9064; (P) 0.9087; (R1) 0.9120; More…

USD/CHF is still staying in range of 0.8998/9200 and intraday bias remains neutral at this point. On the downside, break of 0.8998 will resume larger down trend. Nevertheless, break of 0.9200 will resume the rebound towards 38.2% retracement of 0.9901 to 0.8998 at 0.9343.

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) 0.9731; (P) 0.9789; (R1) 0.9818; More…

Intraday bias in USD/CHF stays mildly on the downside. It’s in another falling leg of the the consolidation from 1.0063. Deeper decline would be seen to 55 day EMA (now at 0.9680). Firm break there will target 0.9493 support again. On the upside, above 0.9884 will resume the rebound to retest 1.0063 high.

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) 1.0026; (P) 1.0048; (R1) 1.0077; More…..

USD/CHF’s rebound from 0.9860 short term bottom is still in progress and intraday bias remains the upside. Sustained trading above 55 day EMA (now at 1.0038) will pave the way for a test on 1.0342 high. On the downside, below 0.9985 minor support will turn focus back to 0.9860 instead.

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.

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Daily Pivots: (S1) 0.8964; (P) 0.8986; (R1) 0.9006; More….

Intraday bias in USD/CHF remains neutral as sideway trading continues above 0.8925. Further decline is expected as long as 0.9052 resistance holds. On the downside, break of 0.8925 will resume the fall from 0.9471 to retest 0.8756 low. However, firm break of 0.9052 resistance will now confirm 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) 0.9563; (P) 0.9617; (R1) 0.9659; More…

Further fall could still be seen in USD/CHF despite loss of downside moment. But downside should be contained by 61.8% retracement of 0.9193 to 1.0063 at 0.9525 to bring rebound. On the upside, above 0.9763 minor resistance will turn bias back to the upside for recovery. However, sustained break of 0.9525 will bring deeper decline to 0.9459 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 161.8% projection of 0.8756 to 0.9471 from 0.9149 at 1.0306, which is close to 1.0342 (2016 high). This will remain the favored case as long as 0.9459 resistance turned support holds.

Daily Pivots: (S1) 0.9665; (P) 0.9709; (R1) 0.9737; More…

USD/CHF’s firm break of 0.9695 support now suggests resumption of fall from 1.0237. Intraday bias is back on the downside for 0.9587 fibonacci level first. Break will target 100% projection of 1.0237 to 0.9695 from 0.9975 at 0.9433. On the upside, break of 0.9797 minor resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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. Nevertheless, break of 0.9975 resistance is needed to indicate completion of the decline from 1.0237. Otherwise, risk will stay on the downside.

Daily Pivots: (S1) 0.9142; (P) 0.9160; (R1) 0.9175; More….

Intraday bias in USD/CHF remains neutral as consolidation from 0.9090 is extending. On the downside, firm break of 0.9084 support will argue that choppy rise from 0.8925 has completed. Fall from 0.9471 might be ready to resuming. Further decline would be seen back to 0.8925 support first. On the upside, above 0.9276 will target 0.9372 resistance 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) 0.9820; (P) 0.9857; (R1) 0.9914; More….

USD/CHF’s rebound from 0.9716 extends higher today but it’s staying inside near term falling channel. Intraday bias remains neutral first. Fall from 1.0128 could extend lower. Break of 0.9800 minor support will turn bias back to the downside. Further break of 0.9716 will target 0.9541 cluster support (61.8% retracement of 0.9186 to 1.0128 at 0.9546). Nevertheless, firm break of 0.9963 will suggest that the pull back from 1.0128 is completed. Near term outlook will be turned bullish for 1.0128.

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

Daily Pivots: (S1) 0.9462; (P) 0.9493; (R1) 0.9554; More….

USD/CHF’s rally is still in progress and intraday bias stays on the upside. Next target is 0.9591 medium term projection level. On the downside, below 0.9432 minor support will turn intraday bias neutral first. But further rally will remain in favor as long as 0.9372 resistance turned support holds.

In the bigger picture, down trend from 1.0342 (2016 high) could 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 61.8% projection of 0.8756 to 0.9471 from 0.9149 at 0.9591. Sustained break there will pave the way to 100% projection at 0.9864. This will now remain the favored case as long as 0.9149 support holds.

Daily Pivots: (S1) 0.9356; (P) 0.9382; (R1) 0.9416; More…

Intraday bias in USD/CHF remains neutral at this point. Also, note that there is no clear sign of trend reversal yet. Therefore, in case of another rise, we’d be cautious on strong resistance from 38.2% retracement of 1.0037 to 0.9254 at 0.9553 to limit upside and bring down trend resumption. On the downside, below 0.9339 minor support will turn bias to the downside for 0.9254. Nonetheless, firm break of 0.9553 will bring stronger rebound to 55 day EMA (now at 0.9616).

In the bigger picture, fall from 1.0342 is developing into a medium term down trend. Deeper decline should be seen to 100% projection of 1.0342 to 0.9420 from 1.0037 at 0.9115. Break will target 161.8% projection at 0.8545. In any case, sustained trading above 55 day EMA is needed to be the first sign of medium term reversal. Otherwise, outlook will stay bearish even in case of strong rebound.

Daily Pivots: (S1) 0.9139; (P) 0.9203; (R1) 0.9248; More….

Further decline remains in favor in USD/CHF with 0.9271 minor resistance intact. Fall from 0.9372 would target 0.9084 support. Firm break there will argue that choppy rise from 0.8925 has completed, and fall from 0.9471 is resuming. Deeper decline would be seen through 0.8925. Nevertheless, break of 0.9271 will turn bias back to the upside for retesting 0.9372.

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) 0.9642; (P) 0.9687; (R1) 0.9765; More…

USD/CHF’s rise from 0.9582 is still in progress and intraday bias remains on the upside for 0.9772 resistance. Decisive break there will revive the bullish case of reversal. That is, whole decline from 1.0342 has completed at 0.9437 after defending 0.9443 support. USD/CHF should then target channel resistance (now at 0.9880) next. On the downside, below 0.9675 minor support will turn intraday bias neutral first. Also, the pair is bounded inside medium term falling channel and limited below 38.2% retracement of 1.0342 to 0.9437 at 0.9783 for the moment. Break of 0.9582 will dampen our bullish view and turn bias back to the downside for 0.9437. This could also extend the fall from 1.0342 through 0.9437/43 key support level.

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. However, firm break of 0.9443 will carry larger bearish implication and would target next key support at 0.9072.

Daily Pivots: (S1) 0.9163; (P) 0.9183; (R1) 0.9202; More….

USD/CHF is staying in consolidation from 0.9148 and intraday bias remains neutral first. 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) 0.9861; (P) 0.9886; (R1) 0.9934; More….

USD/CHF reaches as high as 0.9939 so far and intraday bias remains on the upside. Current rise from 0.9420 should target 61.8% retracement of 1.0342 to 0.9420 at 0.9990. Sustained break there will pave the way to retest 1.0342 high. On the downside, below 0.9837 minor support will turn bias neutral and bring consolidation. But outlook will remain bullish as long as 0.9736 support holds.

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) 0.9845; (P) 0.9870; (R1) 0.9903; More…

Intraday bias in USD/CHF remains neutral for the moment. On the downside, below 0.9817 will resume the decline from 0.9951 to retest 0.9695 low first. On the upside, above 0.9951 will extend the rebound from 0.9695. In that case, upside should be limited by 61.8% retracement of 1.0237 to 0.9695 at 1.0030.

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.

USD/CHF rebounded to 0.9467 last week but reversed from there and dropped sharply. The development argues that larger fall form 0.9901 is not finished. Initial bias remains neutral this week first. Break of 0.9382 will target a test on 0.9181 low. Meanwhile, break of 0.9467 resistance will indicate short term bottoming and turn bias back to the upside for 0.9532 resistance and above.

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.