Daily Pivots: (S1) 0.9061; (P) 0.9121; (R1) 0.9154; More….

USD/CHF’s fall from 0.9471 resumed by breaking through 0.9121 temporary low. Intraday bias is back on the downside for 61.8% retracement of 0.8756 to 0.9471 at 0.9029. Sustained break there will pave the way to retest 0.8756 low. On the upside, break of 0.9180 minor resistance will indicate short term bottoming and bring stronger rebound.

In the bigger picture, 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. We’ll monitor the downside momentum of the decline from 0.9471, to assess the chance of breakthrough 0.8756 low at a later stage.

Daily Pivots: (S1) 0.9649; (P) 0.9688; (R1) 0.9723; More….

Focus on USD/CHF is now back on 0.9772 key resistance. Decisive break there will suggest that whole down trend form 1.0342 has completed. In that case, near term outlook will be turned bullish for 0.9860/1.0099 resistance zone. Nonetheless, with 0.9772 resistance intact, outlook remains bearish. Below 0.9587 minor support will turn bias back to the downside for retesting 0.9420 low.

In the bigger picture, focus remains on whether 0.9443 key support (2016 low) could be taken out firmly as down trend from 1.0342 extends. There are various interpretation of the price actions. But in any case, medium term outlook will stay bearish as long as 0.9772 resistance holds. Current down trend could extend to 38.2% retracement of 0.7065 (2011 low) to 1.0342 (2016 high) at 0.9090. However, break of 0.9772 will indicate that USD/CHF has successfully defended 0.9443 again and turn outlook bullish for 1.0099 resistance.

Daily Pivots: (S1) 0.9812; (P) 0.9837; (R1) 0.9869; More…

Intraday bias in USD/CHF remains neutral for consolidation above 0.9805 temporary low. Further decline will remain in favor as long as 0.9917 resistance holds. On the downside, below 0.9805 will resume the fall from 1.0023 and target 0.9659 support next. On the upside, break of 0.9917 will dampen this bearish view and turn bias back to the upside for 1.0023 resistance instead.

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) 0.9070; (P) 0.9111; (R1) 0.9133; More…

At this point, further fall could still be seen in USD/CHF with 0.9151 minor resistance intact. Current decline might target 161.8% projection of 0.9736 to 0.9376 from 0.9467 at 0.8885. On the upside, above 0.9151 minor resistance will turn intraday bias neutral and bring consolidation first, before staging another decline.

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 0.9362 resistance is needed to be the first sign of medium term bottoming.

Daily Pivots: (S1) 0.9984; (P) 1.0004; (R1) 1.0041; More…

USD/CHF recovers today but stays below 1.0026 temporary top. Intraday bias remains neutral at this point. With 0.9848 support intact, further rise is in favor in the pair. On the upside, break of 1.0026 will resume the rally from 0.9541 and target 1.0067 resistance first. Decisive break there will confirm resumption of larger rise from 0.9186 and should target 1.0342 key resistance next. However, break of 0.9848 support will indicate near term reversal, on bearish divergence condition in 4 hour MACD, and turn outlook bearish.

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.

Daily Pivots: (S1) 0.9629; (P) 0.9651; (R1) 0.9672; More…

Intraday bias in USD/CHF remains on the upside as rebound from 0.9541 extends today. Further rise should be seen to 0.9757 resistance first. Firm break there will target 0.9866 key resistance level, 61.8% retracement of 1.0067 to 0.9541 at 0.9866. On the downside, below 0.9635 minor support will turn bias back to the downside for 0.9541 low instead.

In the bigger picture, 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 possibly 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 suggest that fall from 1.0067 has completed and rise from 0.9186 is resuming.

Daily Pivots: (S1) 0.9682; (P) 0.9824; (R1) 0.9902; More

USD/CHF is staying in consolidation below 0.9964 and intraday bias remains neutral. On the upside, above 0.9964 will resume the rally from 0.9369 to retest 1.0063 high. On the downside, break of 0.9694 support will extend the corrective pattern from 1.0063 with another falling leg.

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.

Daily Pivots: (S1) 0.9913; (P) 0.9928; (R1) 0.9945; More…

As long as 0.9889 minor support holds, further rise is expected in USD/CHF to 0.9975. Break there will target 1.0237 high. However, below 0.9889 minor support will turn intraday bias neutral first. Break of 0.9798 will target 0.9713 next.

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) 0.9159; (P) 0.9196; (R1) 0.9255; More…

Intraday bias in USD/CHF remains neutral and outlook is unchanged. On the upside, firm break of 0.9289 resistance 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 be expected as long as 0.9407 resistance holds, in any case.

Daily Pivots: (S1) 0.9052; (P) 0.9072; (R1) 0.9110; More…

USD/CHF is staying in consolidation below 0.9146 and intraday bias remains neutral. Further rally is expected as long as 0.9013 minor support holds. Rise from 0.8818 short term bottom is seen as corrective whole down trend from 1.0146. Above 0.9146 will target 38.2% retracement of 1.0146 to 0.8818 at 0.9325. On the downside, however, break of 0.9013 will turn bias back to the downside for retesting 0.8818 low instead.

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. Further break of 0.9439 resistance will confirm bullish trend reversal.

Daily Pivots: (S1) 0.9779; (P) 0.9828; (R1) 0.9918; More…

Intraday bias in USD/CHF remains neutral and outlook is unchanged. On the upside, above 0.9964 will resume the rally from 0.9369 to retest 1.0063 high. On the downside, break of 0.9694 support will extend the corrective pattern from 1.0063 with another falling leg, towards 0.9478 support 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 edged higher to 0.9994 last week but quickly turned into consolidation again. Initial bias stays neutral this week first. Downside of retreat should be contained by 38.2% retracement of 0.9716 to 0.9994 at 0.9888 to bring another rally. As noted before, the corrective decline from 1.0128 should have completed at 0.9716 already. On the upside, break of 0.9994 will extend the rise from 0.9716 to retest 1.0128 next. On the downside, though, firm break of 0.9888 will target 61.8% retracement at 0.9822 before completing the 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.

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) 0.9695; (P) 0.9731; (R1) 0.9803; More…

Intraday bias in USD/CHF remains neutral for consolidation above 0.9659 temporary low. With 0.9797 minor resistance intact, further fall is expected. Break of 0.9659 will extend the decline from 1.0237 to 0.9587 fibonacci level first. Break will target 100% projection of 1.0237 to 0.9695 from 0.9975 at 0.9433. However, break of 0.9797 will indicate short term bottoming and bring stronger rebound to 55 day EMA (now at 0.9875).

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) 0.9747; (P) 0.9778; (R1) 0.9814; More….

USD/CHF rises strongly today and focus is now back on 0.9835 resistance. Decisive break there will confirm resumption of rebound from 0.9420. In that case, USD/CHF should target 61.8% retracement of 1.0342 to 0.9420 at 0.9990 next. On the downside, break of 0.9704 support will argue that rebound from 0.9420 has completed. This will also mixed up the near term outlook and turn bias back to the downside for 0.9587 support.

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) 0.9891; (P) 0.9905; (R1) 0.9921; More…

With 4 hour MACD crossed below signal line, a temporary top is formed at 0.9929. Intraday bias is turned neutral first. Further rise is in favor as long as 0.9837 minor support holds. Above 0.9929 will target 0.9975 first. Decisive break there will indicate completion of whole fall from 1.0237. In this case, further rise should be seen to retest 1.0237. On the downside, though, break of 0.9800 minor support will turn bias to the downside for 0.9713 support instead.

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. Butt decisive break of 1.0237 is needed to indicate up trend resumption. Otherwise, medium term outlook will stay neutral first.

Daily Pivots: (S1) 0.9475; (P) 0.9500; (R1) 0.9549; More…

USD/CHF’s rebound indicates temporary bottoming at 0.9437 and intraday bias is turned neutral first. We remain cautious on strong support from 0.9443 key support to bring reversal. But break of 0.9699 is needed to confirm Otherwise, another fall will be in favor. Sustained trading below 0.9443 will extend the down trend from 1.0342 to 161.8% projection of 1.0342 to 0.9860 from 1.0099 at 0.9319.

In the bigger picture, focus is now back 0.9443 key support level. Sustained break there indicate underlying bearish momentum and would target 0.9 handle and possibly below. Meanwhile, strong rebound from current level and break 0.9699 resistance will extend long term range trading between 0.9443/1.0342.

USD/CHF’s decline from 1.0067 continued last week and hit as low as 0.9541. Initial bias stays on the downside this week for 0.9523 fibonacci level next. We’d look for bottoming sign there to bring rebound. On the upside, break of 0.651 support turned resistance will indicate short term bottoming and target 0.9757 resistance. However, sustained break of 0.9523 would pave the way to retest 0.9186 low.

In the bigger picture, 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.

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) 0.9712; (P) 0.9737; (R1) 0.9754; More…

USD/CHF is staying in consolidation from 0.9646 and intraday bias remains neutral. Further decline is expected with 0.9770 resistance intact. On the downside, break of 0.9646 will extend whole fall from 1.0237 and target 100% projection of 1.0237 to 0.9659 from 1.0023 at 0.9445. Nevertheless, on the upside, break of 0.9770 will indicate short term bottoming and turn bias to the upside for 55 day EMA (now at 0.9827) instead.

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) 0.9816; (P) 0.9862; (R1) 0.9888; More…

USD/CHF’s correction rebound from 0.9695 should have completed at 0.9951, after rejection by 55 day EMA. Deeper fall should be seen back 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.

Daily Pivots: (S1) 0.8986; (P) 0.9039; (R1) 0.9077; More….

Intraday bias in USD/CHF stays neutral for the moment. On the upside, 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. However, sustained break of 38.2% retracement of 0.8551 to 0.9243 at 0.8979 will argue that deeper fall is under way to 61.8% retracement at 0.8815.

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.