USD/CHF Daily Outlook

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 Daily Outlook

Daily Pivots: (S1) 0.9214; (P) 0.9244; (R1) 0.9303; More….

Intraday bias in USD/CHF remains on the upside for 0.9293 resistance first. As noted before, with 0.9084 support intact, choppy rise from 0.8925 could still extend higher. Break of 0.9293 should target 0.9372 resistance and above. On the downside, break of 0.9199 minor support will turn intraday bias neutral first.

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.

USD/CHF Weekly Outlook

USD/CHF’s rebound from 0.9186 extended higher last week after brief retreat. Initial bias is back on the upside this week for 0.9626 fibonacci level. On the downside, break of 0.9423 is needed to indicate completion of the rebound. Otherwise, outlook will remain bullish 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.

In the long term picture, at this point, the long term decline from 1.0342 is still in favor to extend lower to 0.8698 key support. But sustained break of above mentioned 0.9626 will turn focus back to 1.0037/0342 resistance zone.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9495; (P) 0.9553; (R1) 0.9596; More

Intraday bias in USD/CHF remains on the downside for the moment. Decline from 0.9868 is seen as a leg in the corrective pattern from 1.0063. Deeper fall would be seen towards 0.9369 support. On the upside above 0.9625 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.

USD/CHF Mid-Day Outlook

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 Mid-Day Outlook

Daily Pivots: (S1) 0.9133; (P) 0.9150; (R1) 0.9161; More….

USD/CHF is still bounded in range of 0.9098/9241 and intraday bias remains neutral. On the downside, break of 0.9098 will target 0.9017 support first. Further break there will likely resume the decline from 0.9471 through 0.8925 low. On the upside, break of 0.9241 resistance should resume the rise from 0.8925 through 0.927.

In the bigger picture, the failure to sustain above 55 week EMA (now at 0.9176) retains medium term bearishness 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.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.8878; (P) 0.8936; (R1) 0.9033; More….

Intraday bias in USD/CHF remains on the upside at this point. Current rally from 0.8332 is in progress for 100% projection projection of 0.8550 to 0.8884 from 0.8728 at 0.9062. On the downside, below 0.8922 minor support will turn intraday bias neutral again. But, outlook will remain bullish as long as 0.8728 support holds.

In the bigger picture, price actions from 0.8332 medium term bottom as seen as developing into a corrective pattern to the down trend from 1.0146 (2022 high). Further rise would be seen as long as 0.8555 support holds. But upside should be limited by 0.9243 resistance, at least on first attempt.

USD/CHF Weekly Outlook

USD/CHF’s strong rebound and decisive break of the near term falling channel suggests that corrective pull back from 1.0128 has completed at 0.9716 already. Initial bias remains on the upside this week. Firm break of 0.9963 will confirm this bullish case and target retesting 1.0128 high. Also, in case of retreat, break of 0.9856 is needed to confirm completion of the rebound. Otherwise, further rise will remain in favor.

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.

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.

USD/CHF Weekly Outlook

USD/CHF edged lower to 0.9050 last week but quickly recovered. Initial bias remains neutral this week and further fall is in favor as long as 0.9241 resistance holds. 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.

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.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.8791; (P) 0.8814; (R1) 0.8843; More….

Intraday bias in USD/CHF remains neutral as consolidation from 0.8884 is extending. With 0.8727 resistance turned support intact, further rally is still expected. 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 Daily Outlook

Daily Pivots: (S1) 0.8912; (P) 0.8930; (R1) 0.8959; More

Intraday bias in USD/CHF stays on the downside. Deeper decline could be seen to 0.8818 and possibly below. But strong support is still expected from 0.8756 to bring reversal. On the upside, above 0.8983 minor resistance will turn intraday bias neutral first.

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.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9042; (P) 0.9072; (R1) 0.9117; More….

Intraday bias in USD/CHF is mildly on the upside for the moment. Current rebound form 0.8756 should target 100% projection of 0.8756 to 0.9044 from 0.8869 at 0.9127 next. Break there will target 0.9181 support turned resistance. On the downside, though, break of 0.9025 minor support will turn 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.

USD/CHF Weekly Outlook

USD/CHF’s rally extended to as high as 0.9919 last week and met target of 0.9900 fibonacci level. A temporary top is likely in place and thus, initial bias is neutral this week for some consolidations first. Downside of retreat should be contained above 0.9648 resistance turned support and bring another rally. Above 0.9919 will target 1.0037 resistance next.

In the bigger picture, medium term decline from 1.0342 has completed with three waves down to 0.9186. Rise from there is currently viewed as a leg inside the long term range pattern. Hence, while further rally would be seen, we’d be cautious on strong resistance from 1.0342 to limit upside. For now, further rise is expected as long as 0.9648 resistance turned support holds, even in case of pull back.

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.

USD/CHF Mid-Day Outlook

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.

USD/CHF Weekly Outlook

USD/CHF rose to 0.9490 last week but failed to sustain above 0.9469 resistance and dropped sharply since then. With 0.9321 minor support intact, initial bias is neutral this week first. On the downside, break of 0.9321 will indicate completion of the rebound from 0.9186. Intraday bias will be turned back to the downside for 0.9186 first. Break will resume larger down trend to 0.9115 projection level. On the upside, break of 0.9490 will revive the case of near term reversal and turn outlook bullish.

In the bigger picture, fall from 1.0342 is seen as 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.

In the long term picture, the strong break of 0.9420 support and downside acceleration turns the long term outlook rather bearish. Corrective rebound from 0.7065 (2011 low) could have already completed at 1.0342. 0.8698 support will be a key level to watch. Sustained break there could bring retest of 0.7065.

USD/CHF Weekly Chart

USD/CHF Monthly Chart

USD/CHF Weekly Chart

USD/CHF Monthly Chart

USD/CHF Weekly Outlook

USD/CHF defended 0.9841 last week and rebounded strongly. Subsequent break of 0.9970 resistance suggests that price actions from 1.0027 are a consolidation, which could have completed at 0.9851 already. Initial bias remains on the upside for retesting 1.0027 high first. Break will resume whole rally from 0.9659. On the downside, however, break of 0.9911 will turn bias back to the downside for 0.9851.

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.

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.

USD/CHF Weekly Outlook

USD/CHF stayed in range above 0.8818 last week and outlook is unchanged. Initial bias stays neutral this week first. on the upside, firm break of 0.8993 resistance will confirm short term bottoming, on bullish convergence condition in 4H MACD. Intraday bias will be turned back to the upside for 55 D EMA (now at 0.9052) and possibly above. In case of another fall, 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.

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.

In the long term picture, long term sideway pattern from 1.0342 (2016 high) is expected to continue between 0.8756/1.0342. However, sustained break of 0.8756 will open up deeper fall back towards 0.7065 (2011 low).

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.8837; (P) 0.8933; (R1) 0.8988; More….

A temporary low is formed at 0.8853 and intraday bias in USD/CHF is turned neutral for consolidations. Stronger recovery cannot be ruled out. But upside should be limited by 0.8952 support turn resistance to bring another fall. Break of 0.8852 will resume the decline from 0.9243 to 100% projection of 0.9243 to 0.8886 from 0.9111 at 0.8754.

In the bigger picture, price actions from 0.8551 are currently seen as a correction to the decline from 1.0146. Fall from 0.9243 is seen as the second leg for now. Deeper fall would be seen to 61.8% retracement of 0.8551 to 0.9243 at 0.8815. Sustained break there will bring retest of 0.8551 low. For now, this will remain the favored case as long as 0.9111 resistance holds.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9214; (P) 0.9259; (R1) 0.9285; More….

Intraday bias in USD/CHF is turned neutral with 4 hour MACD crossed above signal line. Correction from 0.9471 could still extend lower. But we’d expect strong support from 38.2% retracement of 0.8756 to 0.9471 at 0.9198 to contain downside and bring rebound. On the upside, above 0.9350 minor resistance will bring retest of 0.9471 high. However, sustained break of 0.9198 will bring deeper decline to 61.8% retracement at 0.9029.

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.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9106; (P) 0.9128; (R1) 0.9168; More….

No change in USD/CHF’s outlook and further fall is expected with 0.9174 resistance intact. Decline from 0.9367 should target 0.9017 support first and then 0.8925. On the upside, however, break of 0.9174 resistance will indicate short term bottoming and turn bias back to the upside for stronger rebound 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.