Daily Pivots: (S1) 0.9837; (P) 0.9861; (R1) 0.9891; More…

USD/CHF continues to stay in tight range above 0.9787 and intraday bias remains neutral. On the upside, break of 0.9911 minor resistance will suggest that the corrective pull back from 1.0056 is already completed. Intraday bias would then be turned back to the upside for retesting 1.0056 first. On the downside, below 0.9787 will extend the correction. But we’d expect strong support from 0.9724 fibonacci level to contain downside and bring rebound.

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 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds. 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) 0.9858; (P) 0.9897; (R1) 0.9962; More…..

USD/CHF rebounded strongly but stays below 0.9959 minor resistance so far. Intraday bias is staying neutral first. With 0.9959 minor resistance intact, another decline is in favor. Below 0.9812 will extend the decline from 1.0342 to 100% projection of 1.0342 to 0.9860 from 1.0169 at 0.9687. However, considering bullish convergence condition in 4 hour MACD, break of 0.9959 will indicate short term bottoming and turn bias back to the upside for 55 day EMA (now at 1.0025).

In the bigger picture, USD/CHF is staying in medium term sideway pattern between 0.9443/1.0342. 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 deeper fall, we’d expect strong support from 0.9443/9548 support zone.

Daily Pivots: (S1) 1.0022; (P) 1.0047; (R1) 1.0086; More…

USD/CHF’s rebound from 0.9952 extends higher today but it’s limited below 1.0094 so far. Intraday bias remains neutral first. On the upside, break of 1.0094 and sustained trading above 1.0067 will confirm resumption of whole rise from 0.9541. USD/CHF should then target 1.0342 key resistance next. On the downside, below 0.9952 will extend the consolidation from 1.0094 with another decline. But we’d expect strong support from 38.2% retracement of 0.9541 to 1.0094 at 0.9883 to contain downside to bring rebound

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) 0.9062; (P) 0.9081; (R1) 0.9103; More…

USD/CHF is still bounded in consolidation in range of 0.8998/9200 and intraday bias remains neutral. 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) 0.9149; (P) 0.9166; (R1) 0.9192; More….

Outlook in USD/CHF is unchanged and intraday bias remains neutral first. On the upside, break of 0.9200 resistance will argue that fall from 0.9372 has completed with three waves down to 0.9101. Intraday bias will be back on the upside for 0.9372 resistance. On the downside, sustained break of 0.9084 support should confirm that choppy rise from 0.8925 has completed, and suggests that fall from 0.9471 is resuming. Deeper decline would be seen through 0.8925.

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) 0.9107; (P) 0.9153; (R1) 0.9181; More…

Intraday bias in USD/CHF remains neutral at this point as range trading is in progress. Corrective pattern from 0.9058 low is extending. Another rise cannot be ruled out, but upside should be limited by 0.9474 fibonacci level. On the downside, firm break of 0.9058 will resume larger down trend from 1.1046.

In the bigger picture, fall from 1.1046 (2022 high) should still be in progress with 38.2% retracement of 1.0146 to 0.9058 at 0.9474 intact. Prior rejection by 55 week EMA was a medium term bearish sign. Break of 0.9058 will resume such decline towards 0.8756 support (2021 low). But overall, this fall is still 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.

Daily Pivots: (S1) 0.9942; (P) 0.9987; (R1) 1.0013; More…

USD/CHF drops sharply to as low as 0.9926 and took out 4 hour 55 EMA decisively. The development dampens our bullish view. Intraday bias is turned to the downside for 0.9856 support next. On the upside, though, above 0.9989 minor resistance will bring retest of 1.0067. Decisive break there will revive the case of resumption of rise from 0.9186.

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.

Daily Pivots: (S1) 0.9625; (P) 0.9639; (R1) 0.9664; More…

With 4 hour MACD crossed above signal line, a temporary low is formed at 0.9613. Intraday bias is turned neutral for consolidations. Upside should be limited well below 0.9762 resistance to bring down trend resumption. on the downside, break of 0.9613 will target 100% projection of 1.0237 to 0.9659 from 1.0023 at 0.9445.

In the bigger picture, medium term outlook remains neutral as USD/CHF is staying sideway trading started from 1.0342 (2016 high). Fall from 1.0237 is a leg inside the pattern and could target 0.9186 (2018 low). In case of another rise, break of 1.0237 is needed to indicate up trend resumption. Otherwise, more sideway trading would be seen with risk of another fall.

Daily Pivots: (S1) 0.9790; (P) 0.9812; (R1) 0.9837; More….

USD/CHF’s decline accelerates to as low as 0.9732 so far. The break of 0.9765/8 cluster support and downside acceleration argues that fall from 1.0128 is not correcting the rise from 0.9541, but that from 0.9186. Intraday bias stays on the downside for next key level at 0.9541 (61.8% retracement of 0.9186 to 1.0128 at 0.9546. On the upside, break of 0.9834 minor resistance is now needed to be the first sign of near term bottoming. Otherwise, further decline will remain in favor even in case of recovery.

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) 0.9295; (P) 0.9320; (R1) 0.9353; More….

Range trading continues in USD/CHF and intraday bias remains neutral. 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) 0.9154; (P) 0.9211; (R1) 0.9317; More…

Intraday bias in USD/CHF stays neutral with focus on 0.9285 resistance. Firm break there 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 now be expected as long as 0.9407 resistance holds, in any case.

Daily Pivots: (S1) 0.9123; (P) 0.9182; (R1) 0.9235; More…

Intraday bias in USD/CHF remains on the downside with focus on 0.9056. Break there will resume larger down trend. Next near term targets are 61.8% projection of 0.9467 to 0.9056 from 0.9241 at 0.8987, and then 100% projection at 0.8830. On the upside, break of 0.9241 resistance is now needed to indicate short term bottoming. Otherwise, outlook will remain bearish 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. 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) 0.8881; (P) 0.8912; (R1) 0.8936; More…

Intraday bias in USD/CHF remains neutral and outlook is unchanged for now. While down trend from 1.0146 could still extend lower, 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, at least on first attempt. On the upside, break of 0.8993 resistance will indicate short term bottoming, on bullish convergence condition in 4H MACD, and turn bias back to the upside for stronger 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.

Daily Pivots: (S1) 0.8591; (P) 0.8637; (R1) 0.8714; More…

Intraday bias in USD/CHF stays mildly on the upside at this point. Rebound from 0.8553 short term bottom would extend towards 0.8818 support turned resistance. 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) 0.9986; (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) 0.9937; (P) 0.9960; (R1) 0.9984; More…

USD/CHF failed to take out 0.9989 temporary top and retreats. Intraday bias remains neutral at this point. Outlook is unchanged that corrective fall from 1.0056 should have completed at 0.9787. Further rally is expected as long as 0.9894 minor support holds. On the upside, above 0.9989 will bring retest of 1.0056 first. Break will resume the rise from 0.9186 and 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 0.9894 will likely extend the correction, possibly through 0.9787 before completion.

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 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds. 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) 0.9125; (P) 0.9171; (R1) 0.9195; More….

Intraday bias in USD/CHF remains neutral for the moment. Some consolidations would be seen and deeper retreat cannot be ruled out. But risk will stay on the upside as long as 0.9019 support holds. Break of 0.9224 will resume the rally from 0.8551 to 0.9439 resistance next.

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 0.8917) holds, even in case of deep pullback.

Daily Pivots: (S1) 0.9974; (P) 0.9998; (R1) 1.0023; More….

Intraday bias in USD/CHF remains on the upside and rise from 0.9716 is still in progress. As noted before, t corrective decline from 1.0128 should have completed at 0.9716 already, after hitting trend line support. Further rally should now be seen back to retest 1.0128. On the downside, break of 0.9908 is needed to indicate completion of the rebound. Otherwise, outlook will stay cautiously bullish in case of retreat.

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.

USD/CHF stayed in consolidation below 1.0237 last week and outlook is unchanged. Initial bias remains neutral this week for some more sideway trading first. On the upside, break of 1.0237 will resume larger rise from 0.9186 to 1.0342 key resistance. However, break of 1.0126 will turn bias to the downside for deeper decline to 55 day EMA (now at 1.0063).

In the bigger picture, medium term up trend from 0.9186 is extending. Current rise should target 1.0342 resistance next. For now, we’d be cautious on strong resistance from there to limit upside, until we see medium term upside acceleration. On the downside, break of 0.9879 support is needed to indicate reversal. Otherwise, outlook will stay bullish in case of deep 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.

Daily Pivots: (S1) 0.9991; (P) 1.0012; (R1) 1.0038; More…

Intraday bias in USD/CHF remains neutral as the consolidation from 1.0056 is still in progress. On the downside, below 0.9956 will bring deeper pull back. But downside should be contained by trend line support (now at 0.9789) to bring rebound. On the upside, sustained break of 1.0037 will resume recent rise for 1.0342 key 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 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds.