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) 0.9117; (P) 0.9145; (R1) 0.9165; More….

USD/CHF is staying in consolidation above 0.9121 temporary low and intraday bias remains neutral. Deeper decline is expected with 0.9194 minor resistance holds. Below 0.9121 will resume the fall from 0.471 for 61.8% retracement of 0.8756 to 0.9471 at 0.9029 next. On the upside, though, break of 0.9194 resistance will indicate short term bottoming. Intraday bias will be turned back to the upside for 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) 0.9117; (P) 0.9145; (R1) 0.9165; More….

Intraday bias in USD/CHF stays neutral for the moment. Deeper decline is expected with 0.9194 minor resistance holds. Below 0.9121 will resume the fall from 0.471 for 61.8% retracement of 0.8756 to 0.9471 at 0.9029 next. On the upside, though, break of 0.9194 resistance will indicate short term bottoming. Intraday bias will be turned back to the upside for 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) 0.9119; (P) 0.9142; (R1) 0.9163; More….

USD/CHF dips mildly today but stays above 0.9121 temporary low. Intraday bias remains neutral first and deeper decline is expected with 0.9194 minor resistance holds. Below 0.9121 will resume the fall from 0.471 for 61.8% retracement of 0.8756 to 0.9471 at 0.9029 next. On the upside, though, break of 0.9194 resistance will indicate short term bottoming. Intraday bias will be turned back to the upside for 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) 0.9119; (P) 0.9142; (R1) 0.9163; More….

Intraday bias in USD/CHF is neutral for some consolidations first. But deeper decline is expected with 0.9194 minor resistance holds. Below 0.9121 will resume the fall from 0.471 for 61.8% retracement of 0.8756 to 0.9471 at 0.9029 next. On the upside, though, break of 0.9194 resistance will indicate short term bottoming. Intraday bias will be turned back to the upside for 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) 0.9117; (P) 0.9148; (R1) 0.9167; More….

As long as 0.9194 minor resistance holds, fall from 0.9471 is expected to continue. Next target is 61.8% retracement of 0.8756 to 0.9471 at 0.9029 next. Sustained break there would bring retest of 0.8756 low. On the upside, though, break of 0.9194 resistance will indicate short term bottoming. Intraday bias will be turned back to the upside for 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) 0.9117; (P) 0.9148; (R1) 0.9167; More….

USD/CHF’s fall from 0.9471 resumes by breaking 0.9127 temporary low. Intraday bias is back on the downside for 61.8% retracement of 0.8756 to 0.9471 at 0.9029 next. Sustained break there would bring retest of 0.8756 low. On the upside, though, break of 0.9194 resistance will indicate short term bottoming. Intraday bias will be turned back to the upside for 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.

USD/CHF dropped further to 0.9127 last week but turned sideway since then. Initial bias remains neutral this week first. As 38.2% retracement of 0.8756 to 0.9471 at 0.9198 was taken out already, further fall is expected as long as 0.9244 resistance holds. Break of 0.9127 will resume the decline from 0.9471 for 61.8% retracement at 0.9029 next.

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.

In the long term picture, price actions from 0.7065 (2011 low) are currently seen as developing into a long term corrective pattern, at least until a firm break of 1.0342 resistance.

Daily Pivots: (S1) 0.9145; (P) 0.9168; (R1) 0.9192; More….

USD/CHF is still bounded in tight range above 0.9127 temporary low and intraday bias stays neutral first. With 0.9244 resistance intact, further fall is still expected. On the downside, below 0.9127 will extend the decline from 0.9471 to 61.8% retracement of 0.8756 to 0.9471 at 0.9029. Nevertheless, break of 0.9244 will indicate short term bottoming and turn bias to the upside for 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.

Daily Pivots: (S1) 0.9145; (P) 0.9168; (R1) 0.9192; More….

Intraday bias in USD/CHF remains neutral for consolidation above 0.9127 temporary low. With 0.9244 resistance intact, further fall is still expected. On the downside, below 0.9127 will extend the decline from 0.9471 to 61.8% retracement of 0.8756 to 0.9471 at 0.9029. Nevertheless, break of 0.9244 will indicate short term bottoming and turn bias to the upside for 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.

Daily Pivots: (S1) 0.9149; (P) 0.9173; (R1) 0.9192; More….

USD/CHF is staying in consolidation above 0.9127 temporary low and intraday bias remains neutral first. With 0.9244 resistance intact, further fall is still expected. On the downside, below 0.9127 will extend the decline from 0.9471 to 61.8% retracement of 0.8756 to 0.9471 at 0.9029. Nevertheless, break of 0.9244 will indicate short term bottoming and turn bias to the upside for 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.

Daily Pivots: (S1) 0.9149; (P) 0.9173; (R1) 0.9192; More….

Intraday bias in USD/CHF remains neutral for consolidation above 0.9127 temporary low. With 0.9244 resistance intact, further fall is still expected. On the downside, below 0.9127 will extend the decline from 0.9471 to 61.8% retracement of 0.8756 to 0.9471 at 0.9029. Nevertheless, break of 0.9244 will indicate short term bottoming and turn bias to the upside for 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.

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

A temporary low is formed at 0.9127 and intraday bias in USD/CHF is turned neutral first. Further fall is expected as long as 0.9244 resistance holds. Below 0.9127 will extend the fall from 0.9471 to 61.8% retracement of 0.8756 to 0.9471 at 0.9029. Nevertheless, break of 0.9244 will indicate short term bottoming and turn bias to the upside for 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.

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.

Daily Pivots: (S1) 0.9117; (P) 0.9166; (R1) 0.9203; More….

Intraday bias in USD/CHF stays on the downside as fall from 0.9471 should target 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.

Daily Pivots: (S1) 0.9117; (P) 0.9166; (R1) 0.9203; More….

Intraday bias in USD/CHF remains on the downside at this point. Fall from 0.9471 should now target 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.

Daily Pivots: (S1) 0.9174; (P) 0.9204; (R1) 0.9230; More….

USD/CHF’s decline from 0.9471 extends to as low as 0.9127 so far. The break of 38.2% retracement of 0.8756 to 0.9471 at 0.9198 argues that whole rebound from 0.8756 might be finished at 0.9471. Intraday bias is back on the downside for 61.8% retracement at 0.9029 next. 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.

Daily Pivots: (S1) 0.9174; (P) 0.9204; (R1) 0.9230; More….

Focus stays on 38.2% retracement of 0.8756 to 0.9471 at 0.9198 in USD/CHF. On the downside, sustained break of 0.9198 will extend the decline to 61.8% retracement at 0.9029. On the upside, break of 0.9258 minor resistance will argue that corrective pull back from 0.9471 has completed. Intraday bias will be turned back to the upside for retesting this high.

In the bigger picture, fall from 1.0237 should have completed at 0.8756, on bullish convergence 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. However, sustained trading below 55 day EMA (now at 0.9192) will revive medium term bearishness for down trend extension through 0.8756 at a later stage.

USD/CHF extended the decline from 0.9471 last week but struggled to take out 38.2% retracement of 0.8756 to 0.9471 at 0.9198 decisively. Initial bias remains neutral this week first. On the downside, sustained break of 0.9198 will extend the decline to 61.8% retracement at 0.9029. On the upside, break of 0.9258 minor resistance will argue that corrective pull back from 0.9471 has completed. Intraday bias will be turned back to the upside for retesting this high.

In the bigger picture, fall from 1.0237 should have completed at 0.8756, on bullish convergence 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. However, sustained trading below 55 day EMA (now at 0.9192) will revive medium term bearishness for down trend extension through 0.8756 at a later stage.

In the long term picture, price actions from 0.7065 (2011 low) are currently seen as developing into a long term corrective pattern, at least until a firm break of 1.0342 resistance.

Daily Pivots: (S1) 0.9205; (P) 0.9225; (R1) 0.9244; More….

USD/CHF edges lower today but there is no follow through selling so far. Focus stays on 38.2% retracement of 0.8756 to 0.9471 at 0.9198. Sustained trading below this level will extend the fall from 0.9471 to 61.8% retracement at 0.9029. On the upside, break of 0.9258 minor resistance will argue that corrective pull back from 0.9471 has completed. Intraday bias will be turned back to the upside for retesting this high.

In the bigger picture, fall from 1.0237 should have completed at 0.8756, on bullish convergence 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. However, sustained trading below 55 day EMA (now at 0.9192) will revive medium term bearishness for down trend extension through 0.8756 at a later stage.