Daily Pivots: (S1) 0.9800; (P) 0.9810; (R1) 0.9824; More…

USD/CHF is staying in consolidation from 0.9770 and intraday bias remains neutral first. With 0.9876 resistance intact, further decline is expected. On the downside, below 0.9770 will resume the fall from 1.0023 and target 0.9659 low. However, break of 0.9876 will turn bias back to the upside for 1.0023 resistance.

In the bigger picture, medium term outlook remains neutral as USD/CHF is staying in range of 0.9659/1.0237. In any case, decisive break of 1.0237 is needed to indicate up trend resumption. Otherwise, more sideway trading would be seen with risk of another fall. Meanwhile, break of 0.9695 support will target 0.9541 support instead.

USD/CHF’s rally from 0.8851 accelerated higher last week and there is no sign of topping. Initial bias stays on the upside this week for 0.9146/60 cluster resistance. On the downside, break of 0.8982 minor support will turn intraday bias neutral first. But further rally will remain in favor as long as 0.8874 resistance turned support holds, in case of retreat.

In the bigger picture, rebound from 0.8551 medium term bottom is currently seen as a correction to the downtrend from 1.0146 (2022 high). Further rally would be seen to 0.9146 cluster resistance (38.2% retracement of 1.0146 to 0.8551 at 0.9160). Strong resistance could be seen there to limit upside, at least on first attempt. However, decisive break of 0.9146/60 will indicate trend reversal, and target 61.8% retracement at 0.9537.

In the long term picture, there is no clear sign that down trend from 1.8305 (2000 high) has completed. With 38.2% retracement of 1.8305 to 0.7065 at 1.1359 intact, outlook is neutral at best.

Daily Pivots: (S1) 0.9435; (P) 0.9451; (R1) 0.9473; More…

USD/CHF’s sharp fall today dampens our bullish view of bottoming at 0.9362. But as it’s staying in range, intraday bias remains neutral first. On the downside, break of 0.9362 will resume the fall from 0.9901 to 100% projection of 0.9901 to 0.9502 from 0.9736 at 0.9337. On the upside, break of 0.9532 resistance will confirm short term bottoming and bring stronger rise.

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) 0.9048; (P) 0.9071; (R1) 0.9112; More….

USD/CHF is staying in consolidation from 0.8984 is still in progress and intraday bias remains neutral first. Outlook remains bearish with 0.9163 resistance intact and further decline is expected. On the downside, break of 0.8984 will resume the fall from 0.9471 to retest 0.8756 low. Nevertheless, firm break of 0.9163 will turn bias back to the upside for 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. 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) 0.9954; (P) 0.9973; (R1) 0.9996; More…

Intraday bias in USD/CHF remains neutral for the moment. On the upside, break of 0.9991 will resume the rebound from 0.9787 and target 1.0056 high. Break will resume whole rally from 0.9186. On the downside, below 0.9855 will likely resume the correction from 1.0056 through 0.9787 support. But downside should be contained by 38.2% retracement of 0.9186 to 1.0056 at 0.9724 to bring rebound.

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) 0.9629; (P) 0.9651; (R1) 0.9672; More…

USD/CHF’s rebound from 0.9541 short term bottom is still in progress and intraday bias remains on the upside for 0.9757 resistance first. Firm break there will target 0.9866 key resistance level, 61.8% retracement of 1.0067 to 0.9541 at 0.9866. On the downside, below 0.9604 will turn bias back to the downside for 0.9541 low instead.

In the bigger picture, 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 possibly 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 suggest that fall from 1.0067 has completed and rise from 0.9186 is resuming.

Daily Pivots: (S1) 0.9213; (P) 0.9236; (R1) 0.9279; More….

Range trading continues in USD/CHF and intraday bias remains neutral for the moment. Further rise will remain mildly in favor as long as 0.9090 support holds. 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) 0.9916; (P) 0.9943; (R1) 0.9959; More…

USD/CHF’s sharp fall and solid break of 0.9920 support suggests that rebound from 0.9866 has completed at 0.9984. And the fall from 1.0067 is possibly resuming. Intraday bias is turned back to the downside for 0.9866 support first. Meanwhile, not that price actions from 1.0056 are seen as developing into a consolidation pattern. Hence, even in case of deep fall, downside should be contained by 38.2% retracement of 0.9186 to 1.0056 at 0.9724 to bring rebound.

In the bigger picture, current development suggests that the consolidation pattern from 1.0056 is extending with another leg. As long as 38.2% retracement of 0.9186 to 1.0056 at 0.9724 holds, we’d expect rise from 0.9186 to resume at a later stage to retest 1.0342 key resistance (2016 high). However, sustained break of 0.9724 fibonacci level will bring deeper fall, as another declining leg in the long term range pattern.

Daily Pivots: (S1) 0.9823; (P) 0.9853; (R1) 0.9872; More…

No change in USD/CHF’s outlook and focus stays on 0.9841 support. Sustained break there will indicate near term reversal, that is, rebound from 0.9659 has completed. Outlook will be turned bearish for retesting 0.9659 support. On the upside, above 0.9917 minor resistance will turn bias back to the upside for retesting 1.0027 resistance instead.

In the bigger picture, medium term outlook remains neutral as USD/CHF is staying in range of 0.9659/1.0237. In any case, decisive break of 1.0237 is needed to indicate up trend resumption. Otherwise, more sideway trading would be seen with risk of another fall. Meanwhile, break of 0.9695 support will target 0.9541 support instead.

Daily Pivots: (S1) 0.9971; (P) 0.9985; (R1) 1.0004; More…

Intraday bias in USD/CHF remains neutral for the moment. With 1.0008 support turned resistance intact, recovery from 0.9854 is still seen as a corrective move. On the downside, break of 0.9918 minor support will turn bias to the downside or 0.9854 first. On the upside, break of 1.0008 will indicate completion of fall from 1.0237 and turn bias to the upside.

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) 0.9611; (P) 0.9653; (R1) 0.9697; More…

USD/CHF’s decline accelerates to as low as 0.9546 and intraday bias remains on the downside. Larger fall from 1.0237 is in progress and should target 100% projection of 1.0023 to 0.9613 from 0.9848 at 0.9438. On the upside, break of 0.9654 minor resistance will turn intraday bias neutral first. But recovery should be limited well below 0.9848 resistance to bring fall resumption.

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 rejection by 55 week EMA affirms bearishness. Such decline could target 0.9186 (2018 low) and below. 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) 0.9568; (P) 0.9605; (R1) 0.9654; More

Intraday bias in USD/CHF stays neutral for the moment. On the upside, firm break of 4 hour 55 EMA (now at 0.9644) will target 0.9868 resistance first. Further break there will argue that larger up trend is ready to resume through 1.0063. On the downside, below 0.9478 will extend the fall from 0.9868 towards 0.9369 support. Overall, corrective pattern from 1.0063 could extend further as long as 0.9868 resistance holds.

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) 0.9052; (P) 0.9072; (R1) 0.9110; More…

Intraday bias in USD/CHF remains neutral as consolidations from 0.9146 could extend. But further rally is expected as long as 0.9013 minor support holds. Rise from 0.8818 short term bottom is seen as corrective whole down trend from 1.0146. Above 0.9146 will target 38.2% retracement of 1.0146 to 0.8818 at 0.9325. On the downside, however, break of 0.9013 will turn bias back to the downside for retesting 0.8818 low 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), 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. Further break of 0.9439 resistance will confirm bullish trend reversal.

Daily Pivots: (S1) 0.9817; (P) 0.9837; (R1) 0.9860; More….

USD/CHF’s choppy fall from 1.0128 extended to as low as 0.9716 last week before forming a temporary low and recovered. Initial bias remains neutral this week for some consolidations first. The deeper then expected decline argues that it’s correcting whole rise from 0.9186. On the downside, break of 0.9716 will target 0.9541 cluster support (61.8% retracement of 0.9186 to 1.0128 at 0.9546).

In the bigger picture, current development suggests that rise from 0.9186 has possibly completed with three waves up to 1.0128 already. Decline from 1.0128 could either be correcting this move, or reversing the trend. As long as 0.9541 support holds, we’d slightly favor the former scenario, and expect another rise through 1.0128 at a later stage. However, sustained break of 0.9541 will confirm trend reversal and bring deeper fall back to 0.9186 low.

Daily Pivots: (S1) 0.9461; (P) 0.9488; (R1) 0.9516; More…

No change in USD/CHF’s outlook as it’s staying in range of 0.9423/9568. Intraday bias remains neutral. As noted before, rebound from 0.9186 could still extend higher. But considering bearish divergence condition in 4 hour MACD, upside should be limited by 0.9626 key fibonacci level, to complete the rebound from 0.9186. Break of 0.9432 support will indicate near term reversal and turn bias to the downside for retesting 0.9186 low. Nonetheless, sustained break of 0.9626 will carry larger bullish implications.

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) 0.9905; (P) 0.9931; (R1) 0.9963; More…

Intraday bias in USD/CHF remains neutral at this point. Focus stays on 0.9977 minor resistance. Break there will argue that corrective pull back from 1.0056 has completed already. Intraday bias will then be turned back to the upside for retesting 1.0056 high first. In case of another fall, we’d expect strong support from trend line (now at 0.9848) to contain downside and bring rebound. However, sustained break of the trend line will argue that it’s a larger scale correction and will target 0.9724 fibonacci level.

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) 0.8656; (P) 0.8678; (R1) 0.8719; More…

USD/CHF’s rebound from 0.8553 is still in progress and intraday bias stays mildly on the upside. Further rally would be seen towards 0.8818 support turned resistance. Rejection by 0.8818 will retain near term bearishness for another decline through 0.8553. Meanwhile for now, risk will stay mildly on the upside as long as 0.8553 holds, in case of retreat.

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.

Daily Pivots: (S1) 0.8842; (P) 0.8864; (R1) 0.8880; More….

USD/CHF’s retreat from 0.8884 extends lower today and intraday bias remains neutral. Some more consolidative trading would be seen but downside should be contained by 0.8727 resistance turned support to bring another rally. On the upside, above 0.8884 will resume the rise from 0.8332 to 100% projection of 0.8332 to 0.8727 from 0.8550 at 0.8954. Firm break there will pave the way to 161.8% projection at 0.9189. However, sustained break of 0.8727 will dampen this bullish view, and turn bias back to the downside for 0.8550 support instead.

In the bigger picture, a medium term bottom should be formed at 0.8332, on bullish convergence condition in W MACD, just ahead of 0.8317 long term fibonacci support, on bullish convergence condition in W MACD. It’s still early to decide if the larger down trend from 1.0146 (2022 high) is reversing. But further rise should be seen to 0.9243 resistance even as a correction.

Daily Pivots: (S1) 0.9585; (P) 0.9605; (R1) 0.9631; More…

Intraday bias in USD/CHF is turned neutral with 4 hour MACD crossed above signal line. Further decline will remain in favor as long as 0.9736 resistance holds. Corrective pattern from 0.9901 could still extend lower and break of 0.9573 will target 0.9502 support. But downside should be contained by 61.8% retracement of 0.9181 to 0.9901 at 0.9456 to rebound. On the upside, break of 0.9736 resistance will turn bias back to the upside instead.

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) 0.9913; (P) 0.9931; (R1) 0.9956; More…

Intraday bias in USD/CHF remains neutral for the moment. On the upside, decisive break of 0.9983 resistance should confirm completion of whole fall from 1.0237. Further rise should then be seen to retest 1.0237. On the downside, break of 0.9843 will turn bias back to the downside for 0.9798 support.

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.