Daily Pivots: (S1) 0.9953; (P) 0.9998; (R1) 1.0037; More…

USD/CHF drops sharply in early US session but stays in range of 0.9926/1.0067 and intraday bias remains neutral. On the upside, break of 1.0067 resistance will resume the larger rise from 0.9186. USD/CHF should then target 61.8% projection of 0.9186 to 1.0056 from 0.9787 at 1.0325, which is close to 1.0342 key resistance. However, break of 0.9926 will dampen the bullish view again. The pair could target 0.9856 support for deeper decline.

In the bigger picture, rise from 0.9186 is seen as a leg inside the long term range pattern. After drawing support from 55 day EMA, it’s now resuming for 1.0342 key resistance. For now, we’d still cautious on strong resistance from there to limit upside. Meanwhile, break of 0.9787 support is needed to signal completion of the rise. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 0.9077; (P) 0.9093; (R1) 0.9105; More…

intraday bias in USD/CHF remains neutral at this point first. On the downside, break of 0.8998 will resume larger down trend. Nevertheless, break of 0.9200 will resume the rebound towards 38.2% retracement of 0.9901 to 0.8998 at 0.9343.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low), which is still extending. Sustained 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) 0.9088; (P) 0.9100; (R1) 0.9126; More…

Intraday bias in USD/CHF remains neutral as consolidation form 0.8998 is extending. On the downside, break of 0.8998 will resume larger down trend. Nevertheless, break of 0.9200 will resume the rebound towards 38.2% retracement of 0.9901 to 0.8998 at 0.9343.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low), which is still extending. Sustained 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) 0.9231; (P) 0.9252; (R1) 0.9265; More….

Range trading continues in USD/CHF and intraday bias remains neutral. 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) 0.9184; (P) 0.9230; (R1) 0.9257; More….

Intraday bias in USD/CHF remains mildly on the downside for deeper fall. But overall, with 0.9090 support intact, choppy rise from 0.8925 should extend higher. On the upside, above 0.9276 will turn bias back to the upside for 0.9341, and then 0.9372. However, strong break of 0.9090 will argue that rise from 0.8925 is over, and turn near term outlook bearish.

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) 0.9730; (P) 0.9763; (R1) 0.9797; More…

USD/CHF’s rebound from 0.9502 is still in progress and intraday bias stays on the upside for 0.9901 resistance. Decisive break there will resume whole rally from 0.9181. On the downside, break of 0.9648 minor support will extend the correction from 0.9901 with another fall. Intraday bias will be turned to the downside for 61.8% retracement of 0.9181 to 0.9901 at 0.9456 again.

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) 0.9246; (P) 0.9264; (R1) 0.9282; More….

Intraday bias in USD/CHF remains neutral as consolidation form 0.9193 is extending. Further decline is expected with 0.9380 resistance intact. On the downside, below 0.9193 will resume the decline from 0.9459 to 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) 0.9635; (P) 0.9669; (R1) 0.9722; More….

Intraday bias in USD/CHF remains on the upside for the moment. Current up trend should target next projection level at 0.9864. On the downside, below 0.9631 minor support will turn intraday bias neutral and bring consolidations. But downside of retreat should be contained above 0.9459 resistance turned support to bring another rally.

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. This will now remain the favored case as long as 0.9459 resistance turned support holds.

Daily Pivots: (S1) 0.8552; (P) 0.8580; (R1) 0.8604; More…

No change in USD/CHF’s outlook. While further decline cannot be ruled out, based on loss of downside momentum as seen in 4H MACD, some support could be seen from 100% projection of 0.9439 to 0.8818 from 0.9146 at 0.8525 to bring rebound. Break of 0.8629 minor resistance will turn bias to the downside for 55 4H EMA (now at 0.8695) and above.

In the bigger picture, the break of 0.8756 (2021 low) indicates break out from the long term range pattern. For now, medium term outlook will stay bearish as long as 0.9146 resistance holds. Further fall would be seen to 61.8% retracement of 0.7065 (2011 low) to 1.0342 (2016 high) at 0.8317 next.

USD/CHF jumped to as high as 0.9835 last week as rebound from 0.9420 extended. Upside momentum is still a bit unconvincing. But considering the sustained trading above medium term channel resistance, and break of 0.9777 resistance, we’re favoring the whole down trend form 1.0342 has completed after defending 0.9443 key support again. Further rise is now expected this week as long as 0.9708 support holds. Next target is 61.8% retracement of 1.0342 to 0.9420 at 0.9990. However, break of 0.9708 will mix up this bullish outlook and turn bias back to the downside for 0.9587 support instead.

In the bigger picture, current development suggests that USD/CHF has defended 0.9443 (2016 low) key support level again. Rise from 0.9420 could develop into a medium term move and target a test on 1.0342 high. This represents the upper end of a long term range that started back in 2015. On the downside, break of 0.9587 support is now needed to indicate completion of the rise from 0.9420. Otherwise, further rally will remain in favor in medium term.

Daily Pivots: (S1) 0.9996; (P) 1.0033; (R1) 1.0053; More…

USD/CHF drops sharply to as low as 0.9968 so far today. Deeper fall could be seen as the pull back continues. But downside should be contained by 4 hour 55 EMA (now at 0.9960) to bring another rally. The rise from 0.9186 should have just resumed. Above 1.0067 will target 61.8% projection of 0.9186 to 1.0056 from 0.9787 at 1.0325, which is close to 1.0342 key resistance. However, sustained break of the 4 hour 55 EMA will dampen this bullish view and turn focus back to 0.9858 support instead.

In the bigger picture, rise from 0.9186 is seen as a leg inside the long term range pattern. After drawing support from 55 day EMA, it’s now resuming for 1.0342 key resistance. For now, we’d still cautious on strong resistance from there to limit upside. Meanwhile, break of 0.9787 support is needed to signal completion of the rise. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 0.9743; (P) 0.9766; (R1) 0.9781; More…

Intraday bias in USD/CHF remains neutral first. As long as 0.9740 minor support holds, further rise is in favor. Break of 0.9788 will extend the rebound from 0.9613 to 38.2% retracement of 1.0237 to 0.9613 at 0.9851. Reactions from there would unveil whether it’s just a corrective move, or reversing near term trend. On the downside, however, break of 0.9740 minor support will bring retest of 0.9613 low instead.

In the bigger picture, medium term outlook remains neutral as USD/CHF is staying sideway trading started from 1.0342 (2016 high). Fall from 1.0237 is a leg inside the pattern and could target 0.9186 (2018 low). In case of another rise, break of 1.0237 is needed to indicate up trend resumption. Otherwise, more sideway trading would be seen with risk of another fall.

Daily Pivots: (S1) 0.8968; (P) 0.8982; (R1) 0.9001; More…

No change in USD/CHF’s outlook as range trading continues. Intraday bias remains neutral and further decline is in favor. 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) 0.9379; (P) 0.9419; (R1) 0.9449; More….

USD/CHF edged higher to 0.9459 but quickly retreated. Intraday bias remains neutral and more consolidations could be seen. But downside should be contained by 0.9318 support to bring another rally. On the upside, above 0.9459 will 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.

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) 0.9675; (P) 0.9717; (R1) 0.9761; More….

Intraday bias in USD/CHF remains on the upside for the moment. Current up trend should target next medium term projection level at 0.9864. On the downside, below 0.9669 minor support will turn intraday bias neutral and bring consolidations. But downside of retreat should be contained above 0.9459 resistance turned support to bring another rally.

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. This will now remain the favored case as long as 0.9459 resistance turned support holds.

Daily Pivots: (S1) 0.9549; (P) 0.9574; (R1) 0.9616; More…

USD/CHF retreats after hitting 4 hour 55 EMA and intraday bias stays neutral for the moment. Further decline is still expected with 0.9680 resistance intact. Below 0.9474 minor support will turn bias back to the downside for 0.9355 low. Break there will resume the fall from 1.0146 to 0.9287 fibonacci level.

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 might be a medium term down trend itself. Break of 61.8% retracement of 0.8756 to 1.0146 at 0.9287 will pave the way to 0.8756. In any case, risk will stay on the downside as long as 55 day EMA (now at 0.9767) holds.

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

Intraday bias in USD/CHF remains on the upside for the moment. Rally from 0.9058 short term bottom should target 0.9407 resistance, or possibly further to 38.2% retracement of 1.0146 to 0.9058 at 0.9474. On the downside, below 0.9262 minor support will turn intraday bias neutral first.

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) 0.8937; (P) 0.8962; (R1) 0.8982; More…

Intraday bias in USD/CHF remains neutral at this point. On the upside, decisive break of 0.8993 resistance will confirm short term bottoming at 0.8818, on bullish convergence condition in 4H MACD. Intraday bias will be turned back to the upside for 55 D EMA (now at 0.9040) and possibly above. In case of another fall, strong support should be seen from 61.8% projection of 1.0146 to 0.9058 from 0.9439 at 0.8767, which is close to 0.8756 long term support, to bring rebound.

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) 1.0060; (P) 1.0089; (R1) 1.0110; More….

USD/CHF is staying in consolidation from 1.0124 temporary top and intraday bias remains neutral first. In case of deeper retreat, downside should be contained by 1.0027 minor support to bring another rally. On the upside, break of 1.0124 will target 61.8% projection of 0.9716 to 1.0098 from 0.9926 at 1.0162 and then 100% projection at 1.0308.

In the bigger picture, USD/CHF drew strong support from medium term trend line and rebounded. That suggests rise from 0.9186 is still in progress. Further break of 1.0128 will confirm up trend resumption and target 1.0342 key resistance. Nevertheless, break of 0.9926 support will be the first signal of medium term reversal and bring another test on the trend line.

Daily Pivots: (S1) 0.9415; (P) 0.9454; (R1) 0.9489; More…

With 4 hour MACD crossed above signal line, a temporary low is formed at 0.9420 in USD/CHF. Intraday bias is turned neutral first. on the downside, below 0.9420 will target 0.9376 support. Firm break there will resume whole decline from 0.9901. Next downside target will be 100% projection of 0.9901 to 0.9502 from 0.9736 at 0.9337. On the upside, though, above 0.9493 minor resistance will argue that fall from 0.9554 is just a pull back and has completed. Intraday bias will be turned back to the upside for 0.9554 and above to resume the rebound from 0.9376.

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.