Daily Pivots: (S1) 0.9712; (P) 0.9765; (R1) 0.9800; More…

USD/CHF’s decline accelerates to as low as 0.9708 so far and intraday bias stays on the downside. Current fall form 1.0023 should target 0.9659 support next. On the upside, above 0.9753 minor resistance will turn intraday bias neutral and bring consolidation first, before staging another decline.

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.

Daily Pivots: (S1) 1.0044; (P) 1.0095; (R1) 1.0187; More…

USD/CHF’s break of 1.0031 minor support indicates rejection by 1.0146 resistance. Consolidation pattern from there is expected and deeper fall might be seen. But still, outlook will will stay bullish as long as 0.9840 support holds. On the upside, firm break of 1.0146 will resume larger up trend. Next target is 1.0283 projection level.

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) 0.9699; (P) 0.9727; (R1) 0.9745; More…..

USD/CHF weakens further today after being rejected by 4 hour 55 EMA, but it’s staying in range of 0.9651/9975. Intraday bias stays neutral first. With 0.9775 intact, another decline is mildly in favor. On the downside, break of 0.9651 will target 200% projection of 1.0067 to 0.9866 from 0.9981 at 0.8579 next. However, firm break of 0.9775 will be an early sign of near term reversal. That is, fall from 1.0067 could have completed. In this case, further rally would be seen back to 0.9866 support turned resistance for confirmation.

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 0.9866 support turned resistance will suggests that fall from 1.0067 has completed and rise from 0.9186 is resuming.

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

A temporary top is formed at 0.9535 in USD/CHF with current retreat. Intraday bias is turned neutral first. Downside of retreat should be contained by 0.9372 resistance turned support to bring another rally. On the upside, above 0.9535 will target 0.9591 medium term projection level.

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) 0.9782; (P) 0.9813; (R1) 0.9863; More…

USD/CHF’s rally is still in progress and intraday bias stays on the upside. . Consolidation pattern from 1.0063 should have completed with three waves down to 0.9493 already. Further rise would be seen to retest 1.0063 high first. Decisive break there will resume larger up trend. On the downside, break of 0.9670 minor support will dampen this bullish view and turn intraday bias neutral first.

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) 0.9206; (P) 0.9225; (R1) 0.9262; More….

Intraday bias in USD/CHF remains neutral as sideway trading continues. On the upside, break of 0.9274 will suggest that the pull back from 0.9372 is finished. Intraday bias will be turned back to the upside for 0.9372. On the downside, below 0.9156 will target 0.9084 support. Firm break there 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) 0.9214; (P) 0.9244; (R1) 0.9303; More….

Intraday bias in USD/CHF remains on the upside, as rise from 0.9101 is in progress for 0.9293 resistance. 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.

Daily Pivots: (S1) 0.9313; (P) 0.9347; (R1) 0.9382; More…

Intraday bias in USD/CHF stays mildly on the downside with focus on 0.9287 fibonacci level this week. Decisive break there will target 0.9149 structural support next. On the upside, though, break of 0.9454 resistance will now indicate short term bottoming. Intraday bias will be turned back to the upside for 0.9545 resistance and above.

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 55 day EMA (now at 0.9621) holds.

Daily Pivots: (S1) 0.8900; (P) 0.8944; (R1) 0.8967; More…

No change in USD/CHF’s outlook as it’s still bounded in range above 0.8858. Intraday bias stays neutral for the moment. Another decline cannot be ruled out with 0.9070 support turned resistance intact. On the downside, below 0.8858 will resume the down trend from 1.0146 to 61.8% projection of 1.0146 to 0.9058 from 0.9439 at 0.8767, which is close to 0.8756 long term support. Strong support is expected there to bring rebound, at least on first attempt. On the upside, break of 0.9070 support turned resistance will confirm short term bottoming and turn bias back to the upside.

In the bigger picture, fall from 1.1046 (2022 high) is in progress for 0.8756 support (2021 low). But overall, this fall is still 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) 0.9397; (P) 0.9467; (R1) 0.9542; More…

USD/CHF quickly recovered after dipping to 0.9391. Intraday bias is turned neutral again. No change in view that rebound from 0.9181 is a corrective move. Upside should be limited by 0.9613 resistance. On the downside, break of 0.9391 will turn bias to the downside for retesting 0.9181/6 key support zone. On the upside, however, sustained break of 0.9613 support turned resistance will indicate bullish reversal and target 0.9484 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). As long as 0.9613 support turned resistance holds, further fall could be seen to 100% projection 1.0342 to 0.9186 from 1.0237 at 0.9081. However, firm break of 0.9613 will suggest that 0.9186 key support (2018 low) was defended. USD/CHF should have then started another rising leg in the long term range pattern, towards resistance zone of 1.0237 and 1.0342 (2016 high).

Daily Pivots: (S1) 0.9447; (P) 0.9492; (R1) 0.9528; More….

Intraday bias in USD/CHF remains neutral for consolidation below 0.9535. Downside of retreat retreat should be contained by 0.9372 resistance turned support to bring another rally. On the upside, above 0.9535 will turn bias back to the upside and target 0.9591 medium term projection level.

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) 0.9132; (P) 0.9151; (R1) 0.9181; More…

Intraday bias in USD/CHF remains on the upside at this point. Current rebound from 0.8998 short term bottom should target 55 day EMA (now at 0.9230) and above. Such rise is currently seen as a corrective move and hence, we’d pay attention to topping around 38.2% retracement of 0.9901 to 0.8998 at 0.9343. On the downside, below 0.9082 minor support will turn bias back to the downside for retesting 0.8998 low instead.

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) 0.8720; (P) 0.8752; (R1) 0.8785; More….

USD/CHF recovers mildly after hitting 55 4H EMA, but remains bounded in range. Intraday bias stays neutral at this point. On the downside break of 0.8663 minor support should confirm rejection by 0.8818 and turn intraday bias back to the downside for retesting 0.8551 first. Nevertheless, decisive break of 0.8818 will carry larger bullish implication, and target 0.9146 cluster resistance next.

In the bigger picture, down trend from 1.0146 is seen as in progress as long as 0.8188 support turned resistance holds. Next target is 61.8% retracement of 0.7065 (2011 low) to 1.0342 (2016 high) at 0.8317. However, sustained break of 0.8818 should indicate medium term bottoming, and bring stronger rise back to 0.9146 cluster resistance (38.2% retracement of 1.0146 to 0.8551 at 0.9160), even as a correction.

Daily Pivots: (S1) 0.9224; (P) 0.9240; (R1) 0.9257; More….

Range trading continues in USD/CHF and intraday bias remains neutral at this point. Further rise will remain mildly in favor as long as 0.9090 support holds. break of 0.9372 will resume the choppy rally from 0.8925 to 0.9471 high. However, break of 0.9090 will turn bias back to the downside for 0.8925 support instead.

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 the trend has already reversed and rebound the rally from 0.8756 with another impulsive move.

Daily Pivots: (S1) 0.9082; (P) 0.9110; (R1) 0.9161; More…

Intraday bias in USD/CHF stays neutral for the moment. Strong rebound from current level, followed by 0.9287 resistance, should confirm short term bottoming, and turn bias back to the upside. On the downside, sustained break of 61.8% projection of 1.0146 to 0.9355 from 0.9545 at 0.9056 will resume the whole fall from 1.0146 to 100% projection at 0.8754, which is close to 0.8756 long term support.

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) 0.9807; (P) 0.9825; (R1) 0.9841; More…

USD/CHF recovery notably today but stays well below 0.9963 resistance. Intraday bias is turned neutral first with another decline in favor. Below 0.9789 will target 0.9765/8 (61.8% retracement of 0.9541 to 1.0128 at 0.9765, 38.2% retracement of 0.9186 to 1.0128 at 0.9768). We’ll look for bottoming signal again there. On the upside, break of 0.9963 will suggests that the pull back from 1.0128 has completed and will turn bias back to the upside for this resistance.

In the bigger picture, the deeper than expected fall form 1.0128 argues that medium term rally from 0.9186 might have completed at 1.0128 already, on bearish divergence condition in daily and weekly MACD. Break of 0.9541 key support will confirm this bearish case. More importantly, the corrective three wave structure will in turn argue that long term corrective pattern from 1.0342 (2016 high) is extending. In that case, 0.9186 will be the next target.

Daily Pivots: (S1) 0.8985; (P) 0.9008; (R1) 0.9027; More….

Immediate focus is now on 38.2% retracement of 0.8551 to 0.9243 at 0.8979. Sustained break there will extend the fall from 0.9243 to 61.8% retracement at 0.8815. That would also carry larger bearish implications. On the upside, however, , break of 0.9086 resistance will indicate that pull back from 0.9243 has completed, and turn bias to the upside for retesting this high.

In the bigger picture, as long as 55 D EMA (now at 0.8976) holds rise from 0.8551 is viewed as reversing whole down trend from 1.0146 (2022 high). On resumption, further rise should be seen to 61.8% retracement of 1.0146 to 0.8551 at 0.9537 and above. However, sustained break of 55 D EMA will revive medium term bearishness, for retesting 0.8551 low at a later stage.

Daily Pivots: (S1) 0.9675; (P) 0.9717; (R1) 0.9761; More….

A temporary top is formed at 0.9578 in USD/CHF and intraday bias is turned neutral for consolidation. Downside of retreat should be contained above 0.9459 resistance turned support to bring another rally. On the upside, above 0.9758 will resume larger rise to next medium term projection level at 0.9864.

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) 0.9658; (P) 0.9683; (R1) 0.9713; More…..

USD/CHF’s consolidation from 0.9651 temporary low is still in progress and intraday bias remains neutral for the moment. Further recovery could be seen. But upside should be limited by 0.9775 minor resistance to bring another fall. On the downside, break of 0.9651 will target 200% projection of 1.0067 to 0.9866 from 0.9981 at 0.8579 next.

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 0.9866 support turned resistance will suggests that fall from 1.0067 has completed and rise from 0.9186 is resuming.

Daily Pivots: (S1) 0.9713; (P) 0.9734; (R1) 0.9754; More…

Intraday bias in USD/CHF remains neutral and outlook is unchanged. Corrective pattern from 0.9901 could still extend. Break of 0.9665 will bring another fall to 0.9588 support and possibly below. But in that 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 0.9802 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.