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) 0.9153; (P) 0.9176; (R1) 0.9194; More…

USD/CHF is staying in tight range above 0.9133 temporary low and intraday bias remains neutral first. Another fall is in favor with 0.9218 resistance intact. Below 0.9133 will target a test on 0.8998 low. However, on the upside, break of 0.9218 minor resistance will argue that corrective rebound from 0.8998 is not completed yet. In this case, intraday bias will be turned back to the upside for 0.9304 resistance instead.

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) 0.9958; (P) 1.0016; (R1) 1.0072; More…

USD/CHF retreated again after hitting 1.0072 and intraday bias is turned neutral first. 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.

Daily Pivots: (S1) 0.8884; (P) 0.8899; (R1) 0.8930; More….

Focus stays on 0.8919 resistance in USD/CHF. Decisive break there should confirm short term bottoming at 0.8756, on bullish convergence condition in 4 hour MACD. Considering bullish convergence condition in daily MACD too, USD/CHF could be corrective whole fall form 0.9901 in this case. 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 bring retest of 0.8756 low instead.

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 0.9294 resistance is needed to signal medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 0.9343; (P) 0.9365; (R1) 0.9409; More….

Intraday bias in USD/CHF remains on the upside at this point. Current rally should target 0.9471 resistance first. Break there will resume whole rally from 0.8756 to 61.8% projection of 0.8756 to 0.9471 from 0.9090 at 0.9532. On the downside, break of 0.9318 minor support will turn intraday bias neutral and bring consolidations.

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) 0.9271; (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) 0.9633; (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.

Daily Pivots: (S1) 1.0045; (P) 1.0072; (R1) 1.0112; More…

Intraday bias in USD/CHF is turned neutral as the pair fails to sustain above 1.0067 key resistance and retreats sharply. Considering bearish divergence condition in 4 hour MACD, break of 1.0007 minor support will suggests near term reversal. Intraday bias will be turned back to the downside for 0.9848/9954 support zone. On the upside, though, break of 1.0094 and sustained trading above 1.0067 will confirm resumption of larger rise from 0.9186 and should target 1.0342 key resistance next.

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.

Daily Pivots: (S1) 0.9262; (P) 0.9279; (R1) 0.9307; More…

A temporary top is in place at 0.9304 with today’s retreat. Intraday bias in USD/CHF is turned neutral first. Further rise is expected as long as 0.9200 resistance turned support holds. Break of 0.9304 will extend the rebound from 0.8998 to 38.2% retracement of 0.9901 to 0.8998 at 0.9343. However, sustained break of 0.9200 will argue that the rebound has completed and turn bias back to the downside for retesting 0.8998.

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) 0.9923; (P) 0.9951; (R1) 0.9974; More…

Intraday bias in USD/CHF remains neutral for the moment. We’re slightly favoring the case that pull back from 1.0067 has completed already. On the upside, above 0.9977 minor resistance will extend the rebound from 0.9900 to retest 1.0067 high. Break will resume whole rally from 0.9186. However, on the downside, break of 0.9900 will target 0.9856 support instead.

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) 0.9675; (P) 0.9763; (R1) 0.9808; More….

With current retreat, a short term top could be formed at 0.9851 in USD/CHF already, just ahead of medium term projection level at 0.9864. Intraday bias is turned neutral for some consolidations first. Downside should be contained by 38.2% retracement of 0.9193 to 0.9851 at 0.9600. On the upside, firm break of 0.9864 will bring up trend resumption.

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 100% projection of 0.8756 to 0.9471 from 0.9149 at 0.9864. Sustained break there will pave the way back to 1.0342 high. This will now remain the favored case as long as 0.9459 resistance turned support holds.

Daily Pivots: (S1) 0.9142; (P) 0.9166; (R1) 0.9184; More…

Intraday bias in USD/CHF is turned neutral first with current recovery. But outlook remains bearish as long as 0.9407 resistance holds. 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) 0.9973; (P) 0.9993; (R1) 1.0021; More…

No change in USD/CHF’s outlook and focus remains on 1.0008 support turned resistance. Decisive break will indicate completion of fall from 1.0237 and turn bias to the upside for 1.0098 resistance first. Rejection by 1.0008, followed by break of 0.9925 minor support will turn bias back to the downside for 0.9854 support.

In the bigger picture, USD/CHF’s break of long term trend line support is the first indication of medium term reversal. That is, rise from 0.9186 (2018 low) could have completed at 1.0237 already). Sustained break of 38.2% retracement of 0.9186 to 1.0237 at 0.9836 will confirm and target 61.8% retracement at 0.9587. However, strong rebound from 0.9836 will revive medium term bullishness for 1.0237 and above.

Daily Pivots: (S1) 0.8847; (P) 0.8871; (R1) 0.8893; More….

USD/CHF is still bounded in consolidation from 0.8851 temporary low. Intraday bias stays neutral first. In case of another recovery, upside should be limited by 0.8982 support turned resistance to bring fall resumption. On the downside, break of 0.8851 will target 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) 0.9044; (P) 0.9071; (R1) 0.9090; More…

Intraday bias in USD/CHF remains on the downside for the moment. Current down trend should target 61.8% projection of 0.9467 to 0.9050 from 0.9197 at 0.8939. Break will target 100% projection at 0.8780. On the upside, break of 0.9197 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay 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 low). Current development suggests that such pattern is still extending. Sustain trading below 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081 will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9376 resistance is needed to be the first sign of medium term bottoming.

Daily Pivots: (S1) 0.9865; (P) 0.9892; (R1) 0.9924; More…

USD/CHF’s rise is still in progress and intraday bias remains on the upside for 0.9975 resistance first. Decisive break there will indicate completion of whole fall from 1.0237. In this case, further rise should be seen to retest 1.0237. On the downside, though, break of 0.9800 minor support will turn bias to the downside for 0.9713 support 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. Butt decisive break of 1.0237 is needed to indicate up trend resumption. Otherwise, medium term outlook will stay neutral first.

Daily Pivots: (S1) 0.9779; (P) 0.9828; (R1) 0.9918; More…

Intraday bias in USD/CHF remains neutral and outlook is unchanged. 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, towards 0.9478 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.

Daily Pivots: (S1) 0.9765; (P) 0.9792; (R1) 0.9847; More…

Intraday bias in USD/CHF remains on the upside for 61.8% retracement of 1.0067 to 0.9541 at 0.9866. Decisive break there will bring retest of 1.0067 high. On the downside, below 0.9736 minor support will turn intraday bias neutral and bring consolidation first, before staging another rise.

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) 0.9064; (P) 0.9092; (R1) 0.9113; More…

USD/CHF is still bounded in range above 0.9009 despite some volatility in early US session. Intraday bias remains neutral first. With 0.9197 resistance intact, further decline is still in favor. On the downside, break of 0.9009 will resume larger down trend. However, considering bullish convergence condition in 4 hour MACD, break of 0.9197 should confirm short term bottoming and turn bias back to the upside for rebound to 55 day EMA (now at 9282).

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low). Current development suggests that such pattern is still extending. Sustain trading below 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081 will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9376 resistance is needed to be the first sign of medium term bottoming.