Daily Pivots: (S1) 0.9132; (P) 0.9159; (R1) 0.9209; More….

Intraday bias in USD/CHF remains on the upside for the moment. Rebound from 0.9084 short term bottom would extend higher to 0.9367 resistance first. On the downside, below 0.9172 minor support will turn intraday bias back to the downside for 0.9084 instead.

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) 0.9415; (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.

Daily Pivots: (S1) 0.9147; (P) 0.9165; (R1) 0.9187; More….

USD/CHF rebounds notably today but stays below 0.9237 temporary top. Intraday bias remains neutral first. On the upside, break of 0.9237 will resume the rise from 0.8925 to 61.8% retracement of 0.9471 to 0.8925 at 0.9262. Sustained break there will pave the way to retest 0.9471 resistance. On the downside, however, sustained break of 4 hour 55 EMA (now at 0.9144) will bring retest of 0.8925 low instead.

In the bigger picture, medium term bearishness is neutralized by strong break of 55 week EMA. Focus is back on 0.9471 resistance. Sustained break there will indicate completion of whole decline from 1.0342 (2016 high). Medium term outlook will be turned bullish for a test on 1.0342 high.

Daily Pivots: (S1) 0.9383; (P) 0.9419; (R1) 0.9458; More…

Intraday bias in USD/CHF stays neutral at this point. Considering bullish convergence condition in 4 hour MACD, break of 0.9545 will indicate short term bottoming at 0.9325. Intraday bias will be back on the upside for 55 day EMA (now at 0.9652). On the downside, below 0.9325 will target 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 0.9690) holds.

Daily Pivots: (S1) 0.9906; (P) 0.9928; (R1) 0.9947; More…..

Intraday bias in USD/CHF remains neutral for the moment and more consolidation could be seen above 0.9879 temporary low. As long as 1.0010 minor resistance holds, further decline is mildly in favor. On the downside, below 0.9879 will resume the fall from 1.0124 to 0.9716 key support. Nevertheless, break of 1.0010 will turn bias back to the upside for 1.0124/28 resistance zone.

In the bigger picture, focus is back on medium term trend line (now at 0.9846). Decisive break there will argue that whole rise from 0.9186 has completed. Further break of 0.9716 will confirm reversal and target next support level at 0.9541. Nevertheless, there is still a chance that price action from 1.0128 are forming a consolidative pattern with fall from 1.0124 as third leg. If this is the case, stronger support should be seen between 0.9716 and the trend line to contain downside.

Daily Pivots: (S1) 0.9379; (P) 0.9419; (R1) 0.9449; More….

Intraday bias in USD/CHF remains neutral for consolidation below 0.9459 temporary top. Downside of retreat 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) 0.8852; (P) 0.8874; (R1) 0.8887; More….

Intraday bias in USD/CHF remains neutral and more consolidations could be seen. On the upside, decisive break of 0.8925 resistance should confirm short term bottoming at 0.8756. 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 retain near term bearishness. Intraday bias will be turned back to the downside for retesting 0.8756 low 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 0.9295 resistance is needed to signal medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 0.8779; (P) 0.8796; (R1) 0.8818; More….

Range trading continues in USD/CHF and intraday bias remains neutral. On the upside, sustained trading above 0.8818 support turned resistance will carry larger bullish implication. Further rally should then be seen to 0.9146 cluster resistance next. However, break of 0.8688 support will indicate rejection by 0.8818, and turn bias back to the downside for retesting 0.8551 low.

In the bigger picture, a medium term bottom could be in place at 0.8551 already, on bullish convergence condition in D MACD. Sustained trading above 0.8818 will bring further rise to 0.9146 cluster resistance (38.2% retracement of 1.0146 to 0.8551 at 0.9160), even as a correction. Nevertheless, break of 0.8851 will resume the down trend from 1.0146 instead.

Daily Pivots: (S1) 0.9938; (P) 0.9959; (R1) 0.9993; More…

Focus remains on 0.9978 resistance in USD/CHF. Firm break there will suggest that consolidation pattern from 1.0027 has completed at 0.9868. Further rise should then be seen to retest 1.0027 first. Break will resume whole rise from 0.9659 to 78.6% retracement of 1.0237 to 0.9659 at 1.0113. For now, near term outlook will remain cautiously bullish as long as 0.9868 support holds.

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) 0.9269; (P) 0.9289; (R1) 0.9323; More….

Range trading continues in USD/CHF and intraday bias remains neutral for the moment. Choppy rise from 0.8925 would still be in favor to extend higher as long as 0.9090 support holds. Break of 0.9341 will target 0.9372 resistance and then 0.9471. On the downside, however, break of 0.9090 will bring deeper fall back to 0.8925 support.

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) 0.9902; (P) 0.9928; (R1) 0.9947; More…

USD/CHF’s consolidation from 0.9954 temporary top is in progress and intraday bias stays neutral first. Another fall cannot be ruled out. But downside should be contained by 38.2% retracement of 0.9541 to 0.9954 at 0.9796 to bring rise resumption. On the upside, break of 0.9954 will target 1.0067 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) 0.9968; (P) 0.9985; (R1) 0.9998; More…

USD/CHF is still staying in range of 0.98790/1.0010. Intraday bias remains neutral first. On the upside, break of 1.0010 minor resistance will suggest that pull back from 1.0124 has completed. Intraday bias will be turned back to the upside for 1.0124/28 resistance zone. On the downside, break of 0.9879 will resume the fall from 1.0124 to 0.9716 key support.

In the bigger picture, focus is back on medium term trend line (now at 0.9849). Decisive break there will argue that whole rise from 0.9186 has completed. Further break of 0.9716 will confirm reversal and target next support level at 0.9541. Nevertheless, there is still a chance that price action from 1.0128 are forming a consolidative pattern with fall from 1.0124 as third leg. If this is the case, stronger support should be seen between 0.9716 and the trend line to contain downside.

Daily Pivots: (S1) 0.9546; (P) 0.9575; (R1) 0.9605; More…

No change in USD/CHF’s outlook and fall from 1.0063 could extend lower. But should be contained by 61.8% retracement of 0.9193 to 1.0063 at 0.9525 to bring rebound. On the upside, above 0.9763 minor resistance will turn bias back to the upside for recovery. However, sustained break of 0.9525 will bring deeper decline to 0.9193 support.

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 1.0237/0342 resistance zone. This will remain the favored case as long as 0.9471 resistance turned support holds. However, sustained break of 0.9471 will extend long term range trading with another falling leg.

Daily Pivots: (S1) 0.8805; (P) 0.8870; (R1) 0.8906; More…

Intraday bias in USD/CHF is back on the downside on break of 0.8850 support. The down trend from 1.0146 would target 61.8% projection of 1.0146 to 0.9058 from 0.9439 at 0.8767, which is close to 0.8756 long term support. Strong support is expected there to bring rebound, at least on first attempt. On the upside, break of 0.8993 resistance will indicate short term bottoming, on bullish convergence condition in 4H MACD, and turn bias back to the upside for stronger rebound.

In the bigger picture, fall from 1.1046 (2022 high) is in progress for 0.8756 support (2021 low). But overall, this fall is still 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) 0.9815; (P) 0.9831; (R1) 0.9842; More…

Intraday bias in USD/CHF remains neutral for consolidation above 0.9805 temporary low. Further decline will remain in favor as long as 0.9917 resistance holds. On the downside, below 0.9805 will resume the fall from 1.0023 and target 0.9659 support next. On the upside, break of 0.9917 will dampen this bearish view and turn bias back to the upside for 1.0023 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) 0.9931; (P) 0.9954; (R1) 0.9979; More…

No change in USD/CHF’s outlook. Intraday bias remains neutral for consolidation below 0.9984 temporary top. With 0.9920 minor support intact, further rise is mildly in favor. Above 0.9984 will target a test on 1.0067 key resistance next. On the downside, break of 0.9920 minor support will turn bias to the downside, to bring another decline to extend the consolidation pattern from 1.0056.

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) 0.9623; (P) 0.9662; (R1) 0.9702; More

USD/CHF’s rally resumed after brief consolidations and intraday bias is back on the upside for 0.9868 resistance first. Break there will argue that larger up trend is ready to resume through 1.0063. Overall, the corrective pattern from 1.0063 high could still extend. Below 0.9619 minor support will turn bias back to the downside for 0.9478 and below.

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) 0.9982; (P) 0.9996; (R1) 1.0012; More…

USD/CHF’s rebound from 0.9879 extends higher today. Break of 1.0010 resistance indicates completion of pull back from 1.0124. Intraday bias is back on the upside for retesting 1.0124/28 resistance zone. On the downside, though, below 0.9977 minor support will turn bias back to the downside for 0.9879 support intact.

In the bigger picture, USD/CHF is still holding above medium term trend line. Rise from 0.9186 could still be in progress. Decisive break of 1.0128 will resume this medium term rally to 1.0342 resistance next. Meanwhile, sustained break of the trend line (now at 0.9884) will argue that whole rise from 0.9186 has completed. Further break of 0.9716 will confirm reversal and target next support level at 0.9541.

Daily Pivots: (S1) 0.9205; (P) 0.9219; (R1) 0.9244; More….

Intraday bias in USD/CHF stays on the upside, as rise form 0.9017 is targeting a test on 0.9273 resistance. Sustained break there will resume rise from 0.8925 to 100% projection of 0.8925 to 0.9273 from 0.9017 at 0.9365. On the downside, break of 0.9193 minor support will mixed up the outlook and turn intraday bias neutral first.

In the bigger picture, the failure to sustain above 55 week EMA (now at 0.9184) retains medium term bearish in USD/CHF. Break of 0.8925 support should resume the whole decline form 1.0342 (2016 high) through 0.8756 low. However, break of 0.9273 resistance and sustained trading above 55 week EMA will be an early sign of bullish trend reversal. Focus will then turn to 0.9471 resistance for confirmation.

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.