USD/CHF Daily Outlook

Daily Pivots: (S1) 0.8869; (P) 0.8894; (R1) 0.8912; More….

USD/CHF’s break of 0.8822 support suggests down trend resumption. Intraday bias is back on the downside. Next target is 61.8% projection of 0.9901 to 0.8998 from 0.9304 at 0.8746. Break will pave the way to long term projection level at 0.8639. On the upside, break of 0.8918 resistance is 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 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 0.9304 resistance is needed to signal medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9375; (P) 0.9396; (R1) 0.9410; More….

Intraday bias in USD/CHF stays on the upside at this point. Current rise form 0.8756 should target 61.8% retracement of 0.9901 to 0.8756 at 0.9464. Break there will target 0.9901 resistance next. On the downside, break of 0.9212 support is needed to confirm short term topping. Otherwise, outlook will stay mildly bullish in case of retreat.

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 Daily Outlook

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.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.8934; (P) 0.8954; (R1) 0.8978; More

Intraday bias in USD/CHF remains neutral for consolidation above 0.8900 temporary low. Risk will stay on the downside as long as 0.9146 resistance holds. Below 0.8900 will target 0.8818 and possibly below. But strong support is still expected from 0.8756 to bring reversal.

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) 0.9868; (P) 0.9889; (R1) 0.9924; More

Intraday bias in USD/CHF remains neutral at this point. Further rise is in favor as long as 0.9798 support holds. Break of 0.9946 will target 0.9975 resistance first. But break of 0.9798 will turn bias to the downside for retesting 0.9659/9713 support zone 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. 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.

USD/CHF Daily Outlook

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

USD/CHF’s decline resumed after brief consolidations and intraday bias is back on the downside. Current fall from 0.9243 should target 100% projection of 0.9243 to 0.8886 from 0.9111 at 0.8754 next. On the upside, above 0.8898 minor resistance will turn intraday bias neutral and bring consolidations again. But in case of recovery, outlook will stay bearish as long as 0.8952 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 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 Daily Outlook

Daily Pivots: (S1) 0.9526; (P) 0.9552; (R1) 0.9577; More….

USD/CHF’s fall extends to as low as 0.9490 so far. Intraday bias remains on the downside for retesting 0.9437 low. Note again that the pair is bounded in medium falling channel and limited below 38.2% retracement of 1.0342 to 0.9437 at 0.9783. Break of 0.9427 will extend the whole decline from 1.0342 and carries larger bearish implications. On the upside, above 0.9577 minor resistance will turn intraday bias neutral first.

In the bigger picture, we’re slightly favoring the case that USD/CHF has successfully defended 0.9443 key support level. And long term range trading in 0.9443/1.0342 is extending with another rise. At this point, there is no sign of an up trend yet. Hence, while further rise is expected in USD/CHF, we’ll start to be cautious on loss of momentum above 61.8% retracement of 1.0342 to 0.9437 at 0.9996. However, firm break of 0.9443 will carry larger bearish implication and would target next key support at 0.9072.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9403; (P) 0.9459; (R1) 0.9493; More

Intraday bias in USD/CHF remains on the downside at this point. Current fall from 0.9901 should target 100% projection of 0.9901 to 0.9502 from 0.9736 at 0.9337 next. On the upside, break of 0.9514 minor resistance is needed to indicate short term bottoming. Otherwise, further fall will remain in favor 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). It could have completed at 0.9181 after hitting 0.9186 key support (2018 low). Break of 0.9901 will extend the rebound from 0.9181 through 1.0023 resistance. After all, medium term range trading will likely continue between 0.9181/1.0237 for some more time.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9153; (P) 0.9176; (R1) 0.9219; More….

USD/CHF rises slightly today but stays in range of 0.9098/9241 and intraday bias remains neutral first. On the upside, break of 0.9241 resistance should resume the rise from 0.8925 through 0.927. 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.

In the bigger picture, USD/CHF is still struggling around 55 week EMA (now at 0.9176) and outlook is mixed for now. Confirmed rejection by the 55 week EMA will retain medium term bearishness. That is, larger fall from 1.0342 would resume through 0.8756 low at a later stage. However, sustained trading above 55 week EMA will tilt favor to the case of bullish reversal. Focus would then be turned to 0.9471 resistance for confirmation.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9832; (P) 0.9849; (R1) 0.9877; More….

Intraday bias in USD/CHF stays neutral for consolidation above 0.9807 temporary low. Also, further fall is expected as long as 0.9889 minor resistance holds. On the downside, break of 0.9807 will target 100% projection of 1.0067 to 0.9866 from 0.9981 at 0.9780 and possibly below. But fall from 1.0067 is seen as the third leg of the consolidation pattern from 1.0056. Hence, we’d expect strong support from 38.2% retracement of 0.9186 to 1.0056 at 0.9724 to bring rebound. On the upside, above 0.9889 will turn bias to the upside for 0.9981 resistance first. Break will bring retest of 1.0067 high.

In the bigger picture, current development suggests that the consolidation pattern from 1.0056 is extending. As long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds, we’d expect rise from 0.9186 to resume at a later stage to retest 1.0342 key resistance (2016 high). However, sustained break of 0.9724 fibonacci level will bring deeper fall, as another declining leg in the long term range pattern.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9984; (P) 1.0013; (R1) 1.0043; More

Intraday bias in USD/CHF remains neutral as consolidation pattern from 1.0056 is extending. Deeper pull back cannot be ruled out. But in that case, downside should be contained by trend line support (now at 0.9778) 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.

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9209; (P) 0.9248; (R1) 0.9309; More

Intraday bias in USD/CHF remains neutral for consolidation above 0.9186 temporary low. Upside of recovery should be limited by 0.9469 resistance to bring fall resumption. Below 0.9186 will target 0.9115 medium term projection level next. However, 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 0.9553) and above.

In the bigger picture, fall from 1.0342 is developing into 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.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.8934; (P) 0.8973; (R1) 0.9010; More

Intraday bias in USD/CHF remains neutral for the moment. On the upside, above 0.9011 will bring stronger rise towards 0.9146 resistance. On the downside, through, break of 0.8900 will target 0.8818 and possibly below.

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) 0.9907; (P) 0.9975; (R1) 1.0018; More…..

USD/CHF drops to as low as 0.9860 so far as fall from 1.0342 continues. Such decline is seen as the third leg of the pattern from 1.0327. Intraday bias remains on the downside for 61.8% retracement of 0.9443 to 1.0342 at 0.9786 and below. On the upside, however, break of 1.0043 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay mildly bearish in case of recovery.

In the bigger picture, rejection from 1.0327 resistance suggests that consolidation pattern from there is still in progress. Fall from 1.0342 is seen as the third leg and retest of 0.9443/9548 support zone could be seen. But we’d expect strong support from there to contain downside. At this point, we’re still expecting the larger rally to resume later to 38.2% retracement of 1.8305 to 0.7065 at 1.1359.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

USD/CHF Daily Outlook

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).

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.8766; (P) 0.8822; (R1) 0.8851; More

USD/CHF’s decline accelerates today and breaks through 0.8756 key long term support decisively. There is no sign of bottoming and intraday bias on the downside. Next target is 100% projection of 0.9439 to 0.8818 from 0.9146 at 0.8525. On the upside, above 0.8791 minor resistance will turn intraday bias neutral first. But outlook will remain bearish as long as 0.8900 support turned resistance holds.

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 back towards 0.7065 (2011 low).

USD/CHF Daily Outlook

Daily Pivots: (S1) 0.9137; (P) 0.9154; (R1) 0.9172; More….

USD/CHF’s decline from 0.9471 is still in progress. Intraday bias stays on the downside for 61.8% retracement of 0.8756 to 0.9471 at 0.9029. On the upside, break of 0.9244 resistance is needed to indicate short term bottoming. Otherwise, deeper fall will remain in favor in case of recovery.

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.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.8957; (P) 0.8991; (R1) 0.9014; More….

Intraday bias in USD/CHF remains neutral for consolidation above 0.8929. Outlook stays bearish with 0.9046 resistance intact. On the downside, break of 0.8929 will resume the fall from 0.9471, to retest 0.8756 low. However, on the upside, break of 0.9045 will indicate short term bottoming. Intraday bias will be turned back to the upside for stronger rebound.

In the bigger picture, prior 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. Medium term bearish is also affirmed as the pair is now far below falling 55 week EMA. Firm break of 0.8756 low will target 61.8% projection of 1.0237 to 0.8756 from 0.9471 at 0.8556 next.

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9219; (P) 0.9249; (R1) 0.9264; More….

USD/CHF’s break of 0.9199 support suggests that rebound form 0.9101 has completed at 0.9276. Intraday bias is turned back to the downside for 0.9084/9101 support zone. Firm break there will argue that choppy rise from 0.8925 has completed. On the upside, above 0.9276 will target 0.9372 resistance.

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 Daily Outlook

Daily Pivots: (S1) 1.0034; (P) 1.0069; (R1) 1.0097; More

USD/CHF is staying in consolidation from 1.0128 temporary top and intraday bias remains neutral first. Another rally is expected as long as 0.9952 support holds. On the upside, break of 1.0128 would resume larger rise from 0.9186 and target 1.0342 key resistance. However, firm break of 0.9952 will indicate short term topping and bring deeper fall.

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.