Daily Pivots: (S1) 0.8756; (P) 0.8787; (R1) 0.8813; More….

USD/CHF’s fall is still in progress and intraday bias remains on the downside. Firm break of 100% projection of 0.9243 to 0.8886 from 0.9111 at 0.8754 will target 161.8% projection at 0.8533, which is close to 0.8551 low. On the upside, above 0.8817 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 0.8886 support turned resistance holds.

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 resistance holds.

Daily Pivots: (S1) 0.9194; (P) 0.9220; (R1) 0.9268; More….

Intraday bias in USD/CHF remains on the upside for 0.9372 first. Firm break there will target 0.9471 resistance next. On the downside, below 0.9243 minor support will turn intraday bias neutral first. Overall, choppy rise from 0.8925 would still extend higher as long as 0.9090 support holds, even in case of deep retreat.

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) 0.9377; (P) 0.9427; (R1) 0.9496; More…

A temporary low is formed at 0.9355 and intraday bias in USD/CHF is turned neutral for some consolidations. Upside of recovery should be limited by 0.9680 minor resistance to bring another decline. Below 0.9355 will resume the fall from 1.0146 to 0.9287 fibonacci level.

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. 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 55 day EMA (now at 0.9793) holds.

Daily Pivots: (S1) 0.9907; (P) 0.9930; (R1) 0.9946; More…

Intraday bias in USD/CHF remains neutral and outlook is unchanged. On the downside, break of 0.9855 will extend the corrective pattern from 1.0056 with another fall. Intraday bias would be turned to the downside for 0.9787 and below. But downside should be contained by 0.9722/4 cluster support (38.2% retracement of 0.9186 to 1.0056 at 0.9724, 100% projection of 1.0056 to 0.9787 from 0.9991 at 0.9722) to bring rebound. On the upside, firm break of 0.9991 will target a test on 1.0056 high.

In the bigger picture, rise from 0.9186 is seen as a leg inside the long term range pattern. For now, further rise is expected as long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds. Above 1.0056 will target 1.0342 (2016 high). In that case, we’d be cautious on strong resistance from 1.0342 to limit upside. However, sustained break of 0.9724 will dampen this bullish view and would at least bring deeper fall to 61.8% retracement at 0.9518.

Daily Pivots: (S1) 0.9844; (P) 0.9887; (R1) 0.9909; More…

USD/CHF’s break of 0.9837 argues that corrective rise from 0.9659 could have completed at 0.9929 already. Intraday bias is back on the downside for 0.9713 support first. Break will likely resume whole fall from 1.0237 through 0.9695. Risk will now stay on the downside as long as 0.9929 holds, in case of recovery.

In the bigger picture, the structure of the fall from 1.0237 suggests that it’s a corrective move. 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) 1.0037; (P) 1.0061; (R1) 1.0080; More…

USD/CHF’s break of 1.0094 resistance suggests rise resumption. Intraday bias is back on the upside. Current rally from 0.9186 would target 1.0342 key resistance. On the downside, break of 0.9952 support is needed to indicate short term topping. Otherwise, outlook will remain cautiously bullish as long as 0.9952 support holds.

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

Daily Pivots: (S1) 0.9216; (P) 0.9240; (R1) 0.9258; More….

Intraday bias in USD/CHF stays neutral and outlook is unchanged. On the downside, break of 0.9193 will resume the fall from 0.9367 to 0.9162 support first. Considering bearish divergence condition in daily MACD, firm break of 0.9162 will argue that whole rise from 0.8925 has completed and target this support. On the upside, break of 0.9312 support will bring retest of 0.9367 resistance 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 of 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) 0.9949; (P) 0.9995; (R1) 1.0079; More…

USD/CHF’s break of 1.0030 minor resistance indicates that pull back from 1.0146 has completed at 0.9840. Intraday bias is back on the upside for retesting 1.0146 first. Firm break there will resume larger up trend to 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) 0.9401; (P) 0.9429; (R1) 0.9474; More…

Despite the strong rebound from 0.9186, USD/CHF is still staying below 0.9469 resistance. Intraday bias remains neutral first. On the upside, considering bullish convergence condition in 4 hour MACD, break of 0.9469 will indicate near term reversal and turn outlook bullish for 55 day EMA (now at 0.9511) and above. On the downside, below 0.9321 minor support will bring retest of 0.9186. Break there will extend the larger down trend to 0.9115 medium term projection level next.

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.

Daily Pivots: (S1) 0.9019; (P) 0.9053; (R1) 0.9120; More….

Focus stays on 0.9081 resistance in USD/CHF. Firm break there will suggest that pull back from 0.9243 has completed at 0.8985, after drawing support from 38.2% retracement of 0.8551 to 0.9243 at 0.8979. Intraday bias will then be back on the upside for retesting 0.9243 high. Nevertheless, sustained break of 0.8979 will argue that deeper fall is under way to 61.8% retracement at 0.8815.

In the bigger picture, current development indicates that rise from 0.8551 is reversing whole down trend from 1.0146. Further rally would then be seen to 61.8% retracement at 0.9537 and above. For now, this will be the favored case as long as 55 D EMA (now at 0.8971) holds, even in case of deep pullback.

Daily Pivots: (S1) 0.9704; (P) 0.9754; (R1) 0.9780; More…

Intraday bias in USD/CHF remains neutral for the moment. Consolidation pattern from 0.9901 is still extending. On the downside, break 0.9668 minor support will start the third leg towards 0.9502 support. But downside should be contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound. On the upside, above 0.9802 will target a test on 0.9901 resistance next.

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) 0.8855; (P) 0.8913; (R1) 0.8949; More…

Intraday bias in USD/CHF remains on the downside. Current fall from 0.9146 should target 0.8818 and below, to resume whole down trend from 1.0146. Strong support is expected from 0.8756 to contain downside and bring rebound. Yet, break of 0.9015 resistance is now needed to confirm short term bottoming. Otherwise, outlook will stay bearish.

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). While further decline cannot be ruled out, strong support is expected from 0.8756 long term support to bring reversal. Firm break of 0.9146 resistance should confirm medium term bottoming.

Daily Pivots: (S1) 0.9054; (P) 0.9074; (R1) 0.9087; More….

Intraday bias in USD/CHF remains mildly on the downside for retesting 0.8982 low. Decisive break there will resume larger down trend. On the upside, above 0.9148 minor resistance will turn bias back to the upside for 0.9192/9207 resistance zone 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. 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) 0.8947; (P) 0.8987; (R1) 0.9024; More…

Intraday bias in USD/CHF stays on the upside at this point. Rise from 0.8818 short term bottom is at least corrective whole down trend from 1.0146. Sustained break of 55 D EMA (now at 0.9042) will confirm this case and target 38.2% retracement of 1.0146 to 0.8818 at 0.9325. On the downside, below 0.8918 minor support 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). 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.

Daily Pivots: (S1) 0.8640; (P) 0.8659; (R1) 0.8678; More…

Intraday bias in USD/CHF stays mildly on the upside for the moment. Rebound from 0.8553 short term bottom would target 0.8818 support turned resistance. Rejection by 0.8818 will retain near term bearishness for another decline through 0.8553. Meanwhile for now, risk will stay mildly on the upside as long as 0.8553 holds, in case of retreat.

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) 0.9231; (P) 0.9249; (R1) 0.9276; More….

Intraday bias in USD/CHF stays neutral at this point. With 0.9141 support intact, another rise is still mildly in favor. On the upside, break of 0.9273 would pave the way to 0.9471 key resistance next. On the downside, however, break of 0.9141 support will argue that the rebound from 0.8925 has completed, and turn bias back to the downside for this low.

In the bigger picture, medium term outlook is currently neutral with focus on 0.9471 resistance. Sustained break there will indicate completion of whole decline from 1.0342 (2016 high). Medium term outlook will be turned bullish for a test on 1.0342 high. But, rejection by 0.9471 again will revive bearishness for another fall through 0.8756 low.

Daily Pivots: (S1) 0.9584; (P) 0.9606; (R1) 0.9647; More….

Intraday bias in USD/CHF is back on the upside as rally resumed after brief consolidation. Current rise should target 0.9864 projection level next. On the downside, below 0.9545 minor support will turn intraday bias neutral and bring consolidations. But downside of retreat should be contained above 0.9372 resistance turned support to bring another rally.

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) 0.9857; (P) 0.9892; (R1) 0.9943; More…

Intraday bias in USD/CHF remains neutral and outlook is unchanged. Further rally will remain in favor as long as 0.9779 support holds. On the upside, break of 1.0146 will resume larger up trend to 1.0283 projection level. However, firm break of 0.9779 will be a sign of reversal, and bring deeper decline back to 0.9478 support instead.

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 0.9779 support holds, even in case of deep pull back.

Daily Pivots: (S1) 0.9736; (P) 0.9773; (R1) 0.9801; More…..

Intraday bias in USD/CHF remains on the downside at this point. Current fall from 1.0067 should target 161.8% projection of 1.0067 to 0.9866 from 0.9981 at 0.9656 next. On the upside, above 0.9744 minor resistance will turn intraday bias neutral first. But outlook will now stay bearish as long as 0.9866 support turned resistance holds. And deeper fall will remain in favor even in case of recovery.

In the bigger picture, current development suggests that rise from 0.9186 low has completed at 1.0067, after failing to sustain above 1.0037 resistance. Fall from 1.0067 could extend to 61.8% retracement of 0.9816 to 1.0067 at 0.9523 and below. But for now, we don’t expect a break of 0.9186 low. On the upside, firm break of 1.0067 will resume the rise to 1.0342 key resistance (2016 high).

Daily Pivots: (S1) 0.9692; (P) 0.9738; (R1) 0.9766; More…

A temporary low is in place at 0.9695 in USD/CHF with current recovery. Intraday bias is turned neutral for some consolidations first. Upside of recovery should be limited by 0.9854 support turned resistance to bring fall resumption. On the downside, below 0.9659 will target 0.9587 fibonacci level. Nevertheless, break of 0.9854 will indicate short term bottoming and target 1.0014 resistance instead.

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.