Daily Pivots: (S1) 0.9923; (P) 0.9951; (R1) 0.9974; More…

USD/CHF’s retreat from 0.9977 extend lower today and focus is back on 0.9900 minor support. Break will resume the fall from 1.0067 and target 0.9856 support first. On the upside, break of 0.9977 will reaffirm the case that pull back from 1.0067 is completed. And, intraday bias will be back on the upside for retesting 1.0067. Firm break there will resume whole rally from 0.9186.

In the bigger picture, as long as 0.9787 support holds, we’re favoring the bullish case. That is, rise from 0.9787 is resuming the whole up trend from 0.9186 and should target 1.0342 key resistance on resumption. However, break of 0.9787 will indicate medium term reversal and turn outlook bearish.

Daily Pivots: (S1) 0.8655; (P) 0.8683; (R1) 0.8700; More….

Break of 0.8629 support suggests that USD/CHF’s decline is resuming. Intraday bias is back on the downside. Current fall from 0.9243 should target 0.8551 key support next. On the upside, above 0.8710 minor resistance will turn intraday bias neutral again first. But outlook will remain bearish as long as 0.8819 resistance holds.

In the bigger picture, price actions from 0.8551 are currently seen as a corrective pattern to the decline from 1.0146 (2022 high). Fall from 0.9243 is seen as the second leg for now. Strong support should be seen 0.8551 to bring rebound. Meanwhile, break of 0.9111 resistance will argue that the third leg has started already, and target 0.9243.

Daily Pivots: (S1) 0.9163; (P) 0.9183; (R1) 0.9202; More….

USD/CHF is staying in consolidation from 0.9148 and intraday bias remains neutral first. Further decline is still in favor with 0.9251 minor resistance intact. Corrective rise from 0.8927 should be complete with three waves up to 0.9367, on bearish divergence condition in daily MACD. Below 0.9148 will target 0.9017 support first, and then 0.8925 support next. On the upside, however, break of 0.9251 minor resistance will turn bias back to the upside for retesting 0.9367 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 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) 0.9682; (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) 0.9783; (P) 0.9834; (R1) 0.9891; More…

Intraday bias in USD/CHF is turned neutral with current retreat. Some consolidations could be seen first. On the upside, above 0.9884 will extend the rise from 0.9493 to t 1.0063 high. Decisive break there will resume larger up trend. On the downside, break of 0.9754 will turn bias back to the downside for 0.9493 support.

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) 0.9148; (P) 0.9164; (R1) 0.9190; More….

Intraday bias in USD/CHF remains neutral as it’s still staying in consolidation from 0.9090. On the downside, firm break of 0.9084 support will argue that choppy rise from 0.8925 has completed. Fall from 0.9471 might be ready to resuming. Further decline would be seen back to 0.8925 support first. On the upside, above 0.9276 will target 0.9372 resistance instead.

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) 0.9575; (P) 0.9614; (R1) 0.9682; More….

Intraday bias in USD/CHF remains neutral for the moment. Considering it’s close to to 0.9443 key support, consolidation from 0.9427 might extend further. But still, break of 0.9772 resistance is needed to confirm near term reversal. Otherwise, outlook stays bearish for another decline. Below 0.9537 minor support will turn bias back to the downside for retesting 0.9427 first. Break of 0.9427 will resume whole decline from 1.3042.

In the bigger picture, current development suggests that 0.9443 key support (2016 low) could be taken out firmly as down trend form 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) 1.0058; (P) 1.0077; (R1) 1.0110; More…..

USD/CHF is bounded in consolidation below 1.0140 temporary top and intraday bias stays neutral first. With 0.9966 support intact, further rise is in favor. Above 1.0140 will turn bias to the upside and target a test on 1.0342 resistance. Based on neutral medium term outlook, we’d be cautious on topping at around 1.0342. Meanwhile, break of 0.9966 will indicate completion of the rebound from 0.9860. And intraday bias will be turned back to the downside for 0.9860.

In the bigger picture, prior rejection from 1.0327 resistance argues that USD/CHF is staying in a medium term sideway pattern. 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 another fall, we’d expect strong support from 0.9443/9548 support zone. Meanwhile firm break of 1.0342 will target 38.2% retracement of 1.8305 to 0.7065 at 1.1359.

Daily Pivots: (S1) 0.9106; (P) 0.9131; (R1) 0.9172; More…

Intraday bias in USD/CHF remains neutral at this point. Further decline remains in favor as long as 0.9197 resistance holds. Below 0.9087 will bring retest of 0.8998 low first. On the upside, however, break of 0.9197 will extend the corrective pattern from 0.8998 with another rise to 0.9304 resistance and above.

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 0.9376 support turned resistance will be an early sign of trend reversal and turn focus back to 0.9901 key resistance for confirmation.

Daily Pivots: (S1) 0.8860; (P) 0.8888; (R1) 0.8915; More….

Intraday bias in USD/CHF remains neutral first. On the upside, decisive break of 0.8925 resistance should confirm short term bottoming at 0.8756. Intraday bias will be turned back to the upside for 38.2% retracement of 0.9901 to 0.8756 at 0.9193. Though, break of 0.8821 minor support will retain near term bearishness. Intraday bias will be turned back to the downside for retesting 0.8756 low next.

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 0.9295 resistance is needed to signal medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 0.9042; (P) 0.9113; (R1) 0.9155; More…

Intraday bias in USD/CHF is back on the downside with break of 0.9084 support. 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. Nevertheless, strong rebound from current level, followed by 0.9287 resistance, should confirm short term bottoming.

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) 0.9403; (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.

Daily Pivots: (S1) 0.9642; (P) 0.9665; (R1) 0.9699; More…

USD/CHF’s decline from 0.9797 resumed after brief recovery. Intraday bias is back on the downside for 0.9502 and below. Price actions from 0.9901 are possibly forming a consolidation pattern. Strong support might be seen from 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound. On the upside, above 0.9687 minor resistance will turn bias back to the upside for 0.9797 resistance. However, sustained break of 0.9456 will pave the way to retest 0.9181 low.

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). Further rise could be seen to retest 1.0237 high. After all, medium term range trading will likely continue between 0.9181/1.0237 for some time.

Daily Pivots: (S1) 0.9121; (P) 0.9138; (R1) 0.9167; More….

Intraday bias in USD/CHF is back on the upside with breach of 0.9151 resistance. Current rally from 0.8332 should target 0.9243 key resistance next. On the downside, though, below 0.9085 minor support will turn intraday bias neutral again.

In the bigger picture, price actions from 0.8332 medium term bottom as tentatively seen as developing into a corrective pattern to the down trend from 1.0146 (2022 high). Further rise would be seen as long as 0.8728 support holds. But upside should be limited by 0.9243 resistance, at least on first attempt. However, decisive break of 0.9243 will argue that the trend has already reversed and turn medium term outlook bullish.

Daily Pivots: (S1) 0.9665; (P) 0.9709; (R1) 0.9737; More…

USD/CHF’s firm break of 0.9695 support now suggests resumption of fall from 1.0237. Intraday bias is back on the downside for 0.9587 fibonacci level first. Break will target 100% projection of 1.0237 to 0.9695 from 0.9975 at 0.9433. On the upside, break of 0.9797 minor resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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) 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) 0.9007; (P) 0.9018; (R1) 0.9029; More….

Intraday bias in USD/CHF remains neutral at this point. Some more consolidations could be seen, but further rally is expected as long as 0.8964 support holds. Firm break of 0.9070 will resume larger rise from 0.8332 towards 0.9243 key resistance next.

In the bigger picture, price actions from 0.8332 medium term bottom as tentatively seen as developing into a corrective pattern to the down trend from 1.0146 (2022 high). Further rise would be seen as long as 0.8728 support holds. But upside should be limited by 0.9243 resistance, at least on first attempt.

Daily Pivots: (S1) 0.9881; (P) 0.9953; (R1) 0.9996; More…

USD/CHF drops to as low as 0.9902 so far today and intraday bias stays on the downside for 0.9879 key support. Decisive break there will carry larger bearish implications and target 0.9716 support next. On the upside, break of 1.0008 support turned resistance is needed to indicate short term bottoming. Otherwise, outlook will remain mildly bearish in case of recovery.

In the bigger picture, USD/CHF’s break of long term trend line support is the first indication of medium term reversal. Focus is now back on 0.9879 support. Decisive break should add to the case that rise from 0.9186 has completed at 1.0237 already. Further fall should be seen to 0.9716 cluster support (50% retracement of 0.9186 to 1.0237 at 0.9712) next.

Daily Pivots: (S1) 0.9732; (P) 0.9754; (R1) 0.9787; More…

Intraday bias in USD/CHF remains neutral for more consolidations above 0.9659. 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 0.9866).

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) 0.9401; (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.