Daily Pivots: (S1) 0.9194; (P) 0.9232; (R1) 0.9292; More….

Intraday bias in USD/CHF remains neutral at this point. On the upside, break of 0.9271 minor resistance 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) 0.9052; (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) 0.9953; (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) 0.9568; (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) 0.9340; (P) 0.9354; (R1) 0.9372; More….

Intraday bias in USD/CHF remains neutral at this point. Focus stays on 0.9374 resistance. Firm break there will resume larger rise from 0.8756. Next target is 61.8% retracement of 0.9901 to 0.8756 at 0.9464. Rejection by 0.9374 will bring another fall to extend the consolidation. But downside should be contained by 38.2% retracement of 0.8869 to 0.9374 at 0.9181 to bring rebound.

In the bigger picture, fall from 1.0237 should have completed at 0.8756, on bullish condition in daily and weekly MACD. Current rally from 0.8756 should target 0.9901 resistance first. Break there will target 1.0237/0342 resistance zone in the medium term. This will now remain the favored case as long as 0.9044 resistance turned support holds.

Daily Pivots: (S1) 0.9918; (P) 0.9947; (R1) 0.9987; More….

Intraday bias in USD/CHF remains mildly on the upside, and further rise could still be seen to 261.8% projection of 0.9149 to 0.9459 from 0.9193 at 1.0005. On the downside, break of 0.9708 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

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. Sustained trading above 100% projection of 0.8756 to 0.9471 from 0.9149 at 0.9864 will pave the way to 161.8% projection at 1.0306, which is close to 1.0342 (2016 high). This will remain the favored case as long as 0.9459 resistance turned support holds.

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) 0.8863; (P) 0.8891; (R1) 0.8932; More….

No change in USD/CHF’s outlook and focus remains on 0.8918 resistance. Decisive break there will indicate short term bottoming, on bullish convergence condition in 4 hour MACD. Intraday bias will be turned back to the upside for stronger rebound, back towards 0.8998 support turned resistance. Though, rejection by 0.8918 will maintain bearishness. On the downside, break of 0.8821 minor support will bring retest of 0.8756 low first.

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) 0.9655; (P) 0.9678; (R1) 0.9714; More…..

Intraday bias in USD/CHF remains neutral at this point, after recovering from 0.9640. As long as 0.9766 resistance holds, outlook remains bearish for deeper decline. Break of 0.9640 will extend the decline from 1.0067 to 200% projection of 1.0067 to 0.9866 from 0.9981 at 0.8579 next. Though, break of 0.9766 will indicate near term reversal and target 0.9866 support turned resistance.

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) 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) 0.9149; (P) 0.9166; (R1) 0.9192; More….

Intraday bias in USD/CHF remains neutral for the moment. On the upside, break of 0.9200 resistance will argue that fall from 0.9372 has completed with three waves down to 0.9101. Intraday bias will be back on the upside for 0.9372 resistance. On the downside, sustained break of 0.9084 support 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) 0.9383; (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) 0.8911; (P) 0.8926; (R1) 0.8942; More….

Intraday bias in USD/CHF is turned neutral first with current retreat. Some consolidations could be seen. But further rally is expected as long as 0.8743 support holds. On the upside, above 0.8943 will resume the rally from 0.8551 to 0.9146 cluster resistance next.

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.

Daily Pivots: (S1) 0.9954; (P) 0.9991; (R1) 1.001; More….

Intraday bias in USD/CHF remains neutral as consolidation from 1.0037 is still in progress. Deeper retreat could be seen. But downside should be contained above 0.9835 resistance turned support and bring rally resumption. On the upside break of 1.0037 will resume whole rally from 0.9420. And with sustained trading above 61.8% retracement of 1.0342 to 0.9420 at 0.9990, USD/CHF should then target a test on 1.0342 key resistance.

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 is a medium term up move and should 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 0.9736 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) 0.9228; (P) 0.9319; (R1) 0.9368; More…

USD/CHF’s down trend resumed by breaking through 0.9199 support. Intraday bias is back on the downside. Next target is 100% projection of 0.9545 to 0.9199 from 0.9407 at 0.9061. On the upside, break of 0.9407 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

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) 0.9156; (P) 0.9173; (R1) 0.9187; More….

Intraday bias in USD/CHF remains neutral as range trading continues. On the upside, break of 0.9241 resistance should resume the rise from 0.8925 through 0.9273. On the downside, break of 0.9098 will target 0.9017 support first. Further break there will likely resume the decline from 0.9471 through 0.8925 low.

In the bigger picture, the failure to sustain above 55 week EMA (now at 0.9180) retains medium term bearishness 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) 0.9902; (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.