Daily Pivots: (S1) 0.9955; (P) 1.0030; (R1) 1.0077; More…..

Intraday bias in USD/CHF remains on the downside for 0.9860. Corrective rise from there should have completed at 1.0169 and fall from 1.0342 is likely resuming. Break of 0.9860 will target 100% projection of 1.0342 to 0.9860 from 1.0169 at 0.9687. On the upside, 1.0018 minor resistance will turn bias neutral. But outlook will now stay bearish as long as 1.0169 resistance holds.

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.

Daily Pivots: (S1) 0.9632; (P) 0.9672; (R1) 0.9708; More…

Intraday bias in USD/CHF remains neutral for the moment. Another rise is expected as long as 0.9594 support holds. Prior break of 0.9699 resistance suggests near term reversal after defending 0.9443 key support. Above 0.9726 will target 38.2% retracement of 1.0342 to 0.9437 at 0.9783 first. Break will target channel resistance (now at 0.9899). However, firm break of 0.9594 will dampen this bullish view and turn bias back to the downside for 0.9437.

In the bigger picture, current development argues 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.

Daily Pivots: (S1) 0.8914; (P) 0.8943; (R1) 0.8979; More…

Break of 0.9000 resistance suggests that choppy fall from 0.9146 might have completed at 0.8900 already. Intraday bias is back on the upside for stronger rise to 0.9146 resistance. on the downside, though, break of 0.8900 will 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.

Daily Pivots: (S1) 0.9458; (P) 0.9488; (R1) 0.9544; More…

USD/CHF is staying in range below 0.9533 temporary top and intraday bias remains neutral first. Further rise is in favor as long as 0.9356 support holds. Break of 0.9533 will resume the rebound from 0.9186 and target 0.9626 fibonacci level. However, on the downside, break of 0.9356 will indicate that the rebound has completed. In such case, intraday bias will be turned back to the downside for retesting 0.9186 low.

In the bigger picture, fall from 1.0342 is seen as a medium term down trend. Current development is raising the chance that it is completed. But there is no confirmation yet. Focus will now be back on 38.2% retracement of 1.0342 (2016 high) to 0.9186 (2018 low) at 0.9626. Sustained break there will add much credence to the case of trend reversal and target 61.8% retracement at 0.9900 and above). However, rejection from 0.9626 will maintain medium term bearishness for another low below 0.9186.

Daily Pivots: (S1) 0.9890; (P) 0.9957; (R1) 1.0011; More…

Break of 0.9983 suggests resumption of rally from 0.9659. More importantly, corrective decline from 1.0237 should have completed too. Intraday bias is back on the upside for 61.8% retracement of 1.0237 to 0.9659 at 1.0016 and then 78.6% retracement at 1.0113. On the downside,break of 0.9843 support is needed to signal short term topping. Otherwise, outlook will remain cautiously bullish in case of retreat.

In the bigger picture, the structure of the fall from 1.0237 suggests that it’s a corrective move. Sustained 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) 1.0028; (P) 1.0047; (R1) 1.0069; More…..

USD/CHF’s rally from 0.9812 is still in progress with 1.0007 minor support intact and further rise should be seen. We mentioned before that corrective decline fall from 1.0342 should have finished with three waves down to 0.9812 already. Rise from 0.9812 is expected to taken 1.0169 resistance next. Break of 1.0169 should confirm this bullish case and target a test on 1.0342 high. On the downside, below 1.0007 will bring deeper correction, possibly back to 0.9812 low.

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 another fall, we’d expect strong support from 0.9443/9548 support zone.

Daily Pivots: (S1) 0.9205; (P) 0.9219; (R1) 0.9244; More….

Intraday bias in USD/CHF stays on the upside, as rise form 0.9017 is targeting a test on 0.9273 resistance. Sustained break there will resume rise from 0.8925 to 100% projection of 0.8925 to 0.9273 from 0.9017 at 0.9365. On the downside, break of 0.9193 minor support will mixed up the outlook and turn intraday bias neutral first.

In the bigger picture, the failure to sustain above 55 week EMA (now at 0.9184) retains medium term bearish in USD/CHF. Break of 0.8925 support should resume the whole decline form 1.0342 (2016 high) through 0.8756 low. However, break of 0.9273 resistance and sustained trading above 55 week EMA will be an early sign of bullish trend reversal. Focus will then turn to 0.9471 resistance for confirmation.

Daily Pivots: (S1) 0.9223; (P) 0.9248; (R1) 0.9281; More…

USD/CHF’s break of 0.9289 resistance confirms short term bottoming at 0.9058. Intraday bias is back on the upside. Further rise would be seen to 0.9407 resistance, or possibly further to 38.2% retracement of 1.0146 to 0.9058 at 0.9474. For now, further rise will remain mildly in favor as long as 0.9135 support holds, in case of retreat.

In the bigger picture, decline from 1.0146 is seen as part of a long term sideway pattern. As long as 38.2% retracement of 1.0146 to 0.9058 at 0.9474 holds, another fall is in favor through 0.9058. However, sustained trading above 0.9474 will indicate that the medium term trend has reversed, and open up further rally to 1.0146 again.

Daily Pivots: (S1) 0.9174; (P) 0.9258; (R1) 0.9333; More…

Intraday bias in USD/CHF remains neutral for consolidation above 0.9181 temporary low. Upside should be limited by 38.2% retracement of 0.9484 to 0.9181 at 0.9436 down trend resumption. On the downside, break of 0.9181 will target 200% projection of 1.0023 to 0.9613 from 0.9848 at 0.9028 next.

In the bigger picture, current development suggests that decline from 1.0237 is the third leg of the pattern from 1.0342 (2016 high). Focus will be on 100% projection 1.0342 to 0.9186 from 1.0237 at 0.9081. Sustained break there will argue that USD/CHF is in a long term down trend, which would target 138.2% projection at 0.8639 next. For now, outlook will remain bearish as long as 0.9613 support turned resistance holds, in case of rebound.

Daily Pivots: (S1) 0.9556; (P) 0.9602; (R1) 0.9638; More….

Intraday bias in USD/CHF remains mildly on the downside for 0.9420 support. With 0.9772 resistance intact, outlook remains bearish. Break of 0.9420 will resume medium term fall from 1.0342 and target next long term fibonacci level at 0.9090. However, firm break of 0.9772 will indicate trend reversal and turn outlook bullish.

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) 0.9780; (P) 0.9811; (R1) 0.9863; More….

Intraday bias in USD/CHF remains on the upside for 0.9977 resistance. Correction from 1.0037 could have completed three waves down to 0.9698. Break of 0.9977 will confirm this view and resume whole rise from 0.9420 through 1.0037 high. On the downside, below 0.9783 minor support will turn intraday bias neutral first. But this bullish case will be favored as long as 0.9698 support holds.

In the bigger picture, range trading continues between 0.9420/1.0342. At this point, 0.9420 appears to be a strong support level. Therefore, in case of decline attempt, we don’t expect a firm break of this level. Nonetheless, strong break of 1.0342 is also needed to confirm upside momentum. Otherwise, medium term outlook will stay neutral.

Daily Pivots: (S1) 0.9898; (P) 0.9946; (R1) 1.0019; More…

A temporary top is in place at 0.9993 and intraday bias in USD/CHF is turned neutral first. On the upside, above 0.9993 will target 1.0063 resistance. Firm break there will resume larger up trend. Next target is 100% projection of 0.9193 to 1.0063 from 0.9543 at 1.0413. On the downside, below 0.9764 minor support will extend the corrective pattern from 1.0063 with another falling leg, and turn intraday bias to the downside.

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 1.0237/0342 resistance zone. This will remain the favored case as long as 0.9471 resistance turned support holds. However, sustained break of 0.9471 will extend long term range trading with another falling leg.

Daily Pivots: (S1) 0.9865; (P) 0.9898; (R1) 0.9952; More…

Intraday bias in USD/CHF remains mildly on the upside for the moment. Current rebound from 0.9695 would target 1.0014 resistance. Upside could be limited by 61.8% retracement of 1.0237 to 0.9695 at 1.0030. On the downside, below 0.9842 minor support will turn bias back to the downside for retesting 0.9695 low instead. However, sustained break of 1.0030 will pave the way back to retest 1.0237 high.

In the bigger picture, current development suggests that up trend from 0.9186 (2018 low) has 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) 0.9214; (P) 0.9262; (R1) 0.9294; More….

Intraday bias in USD/CHF remains neutral for the moment. As long as 0.9214 support holds, further rally is in favor. On the upside, break of 0.9367 will resume the rise from 0.8925 to 0.9471 key resistance next. On the downside, however, break of 0.9214 will turn bias back to the downside for 0.9017 support again.

In the bigger picture, the strong rally above 55 week EMA (now at 0.9188) now tilts favor to the case of bullish trend reversal. That is, decline from 1.3042 (2016 high) is probably completed at 0.8756 already. Sustained break of 0.9471 resistance should confirm this case and pave the way to retest 1.0342 ahead. However, rejection by 0.9471 will mix up the outlook again and retain some medium term bearishness.

Daily Pivots: (S1) 0.9895; (P) 0.9913; (R1) 0.9938; More…

Focus remains on 0.9929 resistance. Firm break will resume the choppy rise from 0.9659 to 0.9975 resistance next. On the downside, break of 0.9798 will revive the case that recovery from 0.9659 has completed at 0.9929. Further fall should then be seen to 0.9713 support.

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) 0.9751; (P) 0.9806; (R1) 0.9840; More….

USD/CHF falls to as low as 0.9785 so far today and intraday bias remains on the upside for 0.9734 support. Break will resume whole correction from 1.0037. Nonetheless, we’d expect strong support from 61.8% retracement of 0.9420 to 0.1.0037 at 0.9656 to contain downside and bring rebound. On the upside, above 0.9839 resistance will turn bias to the upside for retesting 0.9977 resistance.

In the bigger picture, range trading continues between 0.9420/1.0342. At this point, 0.9420 appears to be a strong support level. Therefore, in case of decline attempt, we don’t expect a firm break of this level. Nonetheless, strong break of 1.0342 is also needed to confirm upside momentum. Otherwise, medium term outlook will stay neutral.

Daily Pivots: (S1) 0.9559; (P) 0.9579; (R1) 0.9604; More…

USD/CHF’s rise from 0.9369 is still in progress and intraday bias stays mildly on the upside for 0.9648 resistance. Firm break there will bring stronger rally back to 0.9884 resistance next. On the downside, below 0.9496 minor support will revive near term bearishness and bring retest of 0.9369 low.

In the bigger picture, while 0.9471 support (2021 high) was breached, there was no follow through selling. Outlook is mixed for now. On the upside, firm break of 0.9648 resistance will revive the case that price actions from 1.0063 are just a corrective pattern, and the larger up trend is no over yet. However, another fall through 0.9369 will affirm the case that medium term up trend from 0.8756 has completed with three waves up to 1.0063.

Daily Pivots: (S1) 0.9738; (P) 0.9786; (R1) 0.9818; More…

USD/CHF is staying in consolidation from 0.9901 and intraday bias remains neutral first. In case of deeper pull back, downside should be contained by 0.9649 support to bring another rally. As noted before, fall from 1.0237 should have completed at 0.9181. Above 0.9901 will target 1.0023 resistance and then 1.0237. However, firm break of 0.9649 will dampen immediate bullishness and bring deeper pull back.

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) 0.9869; (P) 0.9883; (R1) 0.9910; More…

Intraday bias in USD/CHF remains neutral for the moment. Further fall is mildly in favor with 0.9904 resistance intact. On the downside, sustained break of 0.9843 support will indicate that choppy rebound from 0.9659 has completed at 1.0027. Deeper fall should be seen to 0.9659 support and below. On the upside, above 0.9904 minor resistance will turn focus back to 1.0027 instead.

In the bigger picture, corrective fall from 1.0237 should have completed at 0.9659 already, 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) 0.9993; (P) 1.0029; (R1) 1.0094; More…

Intraday bias in USD/CHF stays neutral at this point. On the upside, break of 1.0072, and sustained trading above 1.0063, will confirm larger up trend resumption. Next target is 1.0283 projection level. However, break of 0.9914 support will indicate rejection by 1.0063, and turn bias back to the downside for 0.9779 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.