Daily Pivots: (S1) 0.8952; (P) 0.8977; (R1) 0.9001; More…

No change in USD/CHF’s outlook and intraday bias remains neutral. Risk stays 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.

Daily Pivots: (S1) 0.8947; (P) 0.8991; (R1) 0.9021; More….

Intraday bias in USD/CHF remains on the downside at this point. Current fall from 0.9471 should target a test on 0.8756 low. On the upside, break of 0.9092 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish 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. 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.

Daily Pivots: (S1) 0.9184; (P) 0.9207; (R1) 0.9224; More….

Intraday bias in USD/CHF stays neutral at this point. Overall, further rally is mildly in favor as long as 0.9090 support holds. On the upside, break of 0.9372 will resume the choppy rally from 0.8925 to 0.9471 high. However, break of 0.9090 will turn bias back to the downside for 0.8925 support instead.

In the bigger picture, medium term outlook will be neutral at best as long as 0.9471 resistance holds. Larger down trend could still extend through 0.8756 (2021 low). However, firm break of 0.9471 will argue that the trend has already reversed and rebound the rally from 0.8756 with another impulsive move.

Daily Pivots: (S1) 0.9195; (P) 0.9258; (R1) 0.9295; More….

Intraday bias in USD/CHF stays on the downside, as fall from 0.9459 is in progress for 0.9149 support. Firm break there will turn near term outlook bearish for 0.9090 support and below. On the upside, above 0.9380 resistance will flip bias back to the upside for 0.9459 resistance instead.

In the bigger picture, medium term outlook will be neutral at best as long as 0.9471 resistance holds. Larger down trend could still extend through 0.8756 (2021 low). However, firm break of 0.9471 will argue that whole down trend form 1.0342 (2016 high), has completed with waves down to 0.8756. A medium term up trend should be set up to target 1.0237/0342 resistance zone.

Daily Pivots: (S1) 0.9548; (P) 0.9600; (R1) 0.9657; More…

Intraday bias in USD/CHF stays mildly on the upside as rebound from 0.9468 short term bottom is in progress. Sustained trading above 55 day EMA (now at 0.9650) will raise the chance that corrective pattern from 1.0063 has completed. Further rally should then be seen to 0.9884 resistance next. This will remain the favored case as long as 0.9468 support holds.

In the bigger picture, medium term up trend from 0.8756 (2021 low) is still in progress. On resumption, 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. However, firm break of 0.9471 will raise the chance that such up trend is over. Sustained trading below 55 week EMA (now at 0.9424) could bring deeper medium term fall back to 0.9149 support and below.

Daily Pivots: (S1) 0.9823; (P) 0.9862; (R1) 0.9899; More…

USD/CHF failed to sustain below trend line support and recovered. Intraday bias is turned neutral again. On the upside, break of 0.9982 will indicate that pull back from 1.0056 has completed and bring retest of this resistance. However, on the downside, break of 0.9825 will indicate that fall from 1.0056 is a larger scale correction. In such case, deeper decline would be seen back to 0.9724 fibonacci level before completion.

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.

Daily Pivots: (S1) 1.0089; (P) 1.0106; (R1) 1.0126; More…

Intraday bias in USD/CHF remains neutral for the moment. Further decline remains mildly in favor as long as 1.0126 support turned resistance holds. On the downside, break of 1.0050 will resume the fall from 1.0237 to retest 0.9879 key support. However, firm break of 1.0126 will turn bias back to the upside for 1.0237 resistance.

In the bigger picture, as long as 0.9879 support holds, medium term up trend form 0.9186 is still in progress. Break of 1.0237 will target 1.0342 resistance next. For now, we’d be cautious on strong resistance from there to limit upside, until we see medium term upside acceleration. However, decisive break of 0.9879 will be a strong sign of medium term reversal. Focus will be turned back to 0.9716 support for confirmation.

Daily Pivots: (S1) 0.9186; (P) 0.9220; (R1) 0.9241; More….

Range trading continues in USD/CHF and intraday bias remains neutral first. On the upside, break of 0.9274 will suggest that the pull back from 0.9372 is finished. Intraday bias will be turned back to the upside for 0.9372. On the downside, below 0.9156 will target 0.9084 support. Firm break there should confirm that choppy rise from 0.8925 has completed, and suggests that fall from 0.9471 is resuming. Deeper decline would be seen through 0.8925.

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) 0.8842; (P) 0.8872; (R1) 0.8892; More….

Intraday bias in USD/CHF is turned neutral again with today’s recovery. Upside of recovery should be limited by 0.8982 support turned resistance to bring fall resumption. On the downside, break of 0.8851 will resume the larger down trend to 61.8% projection of 0.9901 to 0.8998 from 0.9304 at 0.8746 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 0.9304 resistance is needed to signal medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 0.9185; (P) 0.9232; (R1) 0.9273; More…

Intraday bias in USD/CHF remains neutral and outlook is unchanged. On the downside, sustained break of 61.8% projection of 1.0146 to 0.9355 from 0.9545 at 0.9056 will pave the way to 100% projection at 0.8754, which is close to 0.8756 long term support. Nevertheless, on the upside, break of 0.9407 should confirm short term bottoming and turn bias back to the upside.

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) 0.9821; (P) 0.9842; (R1) 0.9862; More…

USD/CHF’s extends today by taking out 0.9866 cluster resistance and hits as high as 0.9889 so far. Intraday bias is back on the upside. Sustained trading above 0.9866 will pave the way to retest 1.0067 high. On the downside, though, break of 0.9822 minor support will indicate short term topping and bring lengthier consolidations, before staging another rally.

In the bigger picture, focus is now back on 0.9866 support turned resistance. Decisive break there will suggests that pull back from 1.0067 has completed at 0.9541. And larger rise from 0.9186 low is ready to resume. Decisive break of 1.0067 will pave the way to 1.0342 key resistance next. Meanwhile, break of 0.9541 will extend the decline but we don’t expect a break of 0.9186 low even in that case.

Daily Pivots: (S1) 0.9625; (P) 0.9644; (R1) 0.9676; More…

USD/CHF’s break of 0.9669 minor resistance suggests completion of fall from 0.9802. Intraday bias is turned back to the upside for 0.9802 first. Break will target a test on 0.9901 resistance. On the downside, below 0.9588 will turn bias to the downside for 0.9502 support. Overall, price actions from 0.9901 are in progress and downside should be contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound.

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 form 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) 0.8997; (P) 0.9030; (R1) 0.9084; More…

USD/CHF’s rebound from 0.8818 short term bottom is in progress. Intraday bias stays on the upside for the moment. Sustained trading above 55 D EMA (now at 0.9042) should confirm that current rally is at least correcting whole down trend from 1.0146. Further rise should then be seen to 38.2% retracement of 1.0146 to 0.8818 at 0.9325. On the downside, below 0.8977 minor support will turn intraday bias neutral first.

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). So, downside should be contained by 0.8756 to bring reversal. Sustained break of 0.9058 support turned resistance will be the first sign of medium term bottoming. However, decisive break of 0.8756 will carry larger bearish implications.

Daily Pivots: (S1) 0.9360; (P) 0.9409; (R1) 0.9439; More…

Intraday bias in USD/CHF remains neutral for the moment. Current development argues that larger fall from 0.9901 is not finished. Break of 0.9382 will target a test on 0.9181 low. Meanwhile, break of 0.9467 resistance will indicate short term bottoming and turn bias back to the upside for 0.9532 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). 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) 0.9856; (P) 0.9894; (R1) 0.9915; More…

No change in USD/CHF’s outlook. Correction from 1.0056 is still in progress and intraday bias stays on the downside for 0.9787 support and possibly below. But we’d expect strong support from 0.9720/4 cluster support (38.2% retracement of 0.9186 to 1.0056 at 0.9724, 100% projection of 1.0056 to 0.9787 from 0.9989 at 0.9720) to bring rebound. On the upside, above 0.9989 will bring retest of 1.0056 high first.

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. However, sustained break of 0.9724 will dampen this bullish view and would at least bring deeper fall to 61.8% retracement at 0.9518.

Daily Pivots: (S1) 0.9130; (P) 0.9163; (R1) 0.9215; More….

Intraday bias in USD/CHF remains neutral for the moment as consolidation from 0.9224 is extending. Deeper retreat cannot be ruled out. But near term outlook will stay bullish as long as 0.9019 support holds. On the upside, 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 0.8942) holds, even in case of deep pullback.

Daily Pivots: (S1) 0.9271; (P) 0.9295; (R1) 0.9337; More…

USD/CHF’s rise from 0.9058 is resuming by taking out 0.9931 resistance. Intraday bias is back on the upside for 38.2% retracement of 1.0146 to 0.9058 at 0.9474. For now, break of 0.9219 support is needed to indicate completion of the rebound. Otherwise, further rally will remain in favor 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) 0.9192; (P) 0.9266; (R1) 0.9408; More…

Intraday bias in USD/CHF stays mildly on the upside at this point. Current rise from 0.9070 is seen as the third leg of the corrective pattern from 0.9058 low. Further rally would be seen to 0.9439 resistance and possibly above. But overall, outlook will stay bearish as long as 0.9474 fibonacci level holds, and another decline through 0.9058 is expected at a later stage. On the downside, below 0.9256 minor support will turn intraday bias neutral first.

In the bigger picture, fall from 1.1046 (2022 high) should still be in progress with 38.2% retracement of 1.0146 to 0.9058 at 0.9474 intact. Rejection by 55 week EMA was a medium term bearish sign. Break of 0.9058 will resume such decline towards 0.8756 support (2021 low). But overall, such fall is still as a leg in the long term range pattern from 1.0342 (2016 high). So, downside should be contained by 0.8756 to bring reversal.

Daily Pivots: (S1) 0.8953; (P) 0.8965; (R1) 0.8984; More…

Range trading continues in USD/CHF and intraday bias remains neutral. Also, near term outlook stays bearish for now. On the downside, break of 0.8900 will resume the fall from 0.9146 to 0.8818 low or below. On the upside, above 0.9015 will bring stronger rise towards 0.9146 resistance 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). While further decline cannot be ruled out, strong support is expected from 0.8756 long term support to bring reversal. Firm break of 0.9146 resistance should confirm medium term bottoming.

Daily Pivots: (S1) 0.9633; (P) 0.9675; (R1) 0.9699; More…..

Focus remains on 0.9640 low in USD/CHF. Decisive break there will resume whole fall from 1.0067. Next downside target will be 0.9523 fibonacci level. On the upside, break of 0.9766 resistance is needed to indicate near term reversal. Otherwise, outlook will stay bearish even in case of recovery.

In the bigger picture, current development suggests that 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.