Sample Category Title

Daily Pivots: (S1) 1.5738; (P) 1.5769; (R1) 1.5794; More...

EUR/AUD breached 1.5721 low to 1.5714 but rebounded strongly since then. Intraday bias remains neutral first. Consolidation from 1.5721 might extend further. But upside should be limited by 1.6122 resistance to bring fall resumption eventually. On the downside, decisive break of 1.5271 will resume the fall from 1.6765 and target 1.5346 support next.

In the bigger picture, as long as 1.5346 support holds, outlook will remain bullish. Uptrend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

Pivot (invalidation): 15.2000

Our preference Short positions below 15.2000 with targets at 14.9500 & 14.8800 in extension.

Alternative scenario Above 15.2000 look for further upside with 15.2500 & 15.3300 as targets.

Comment As Long as 15.2000 is resistance, look for choppy price action with a bearish bias.

Daily Pivots: (S1) 1.1178; (P) 1.1191; (R1) 1.1215; More...

A temporary low is formed at 1.1162 in EUR/CHF and intraday bias is turned neutral first. Further fall is expected as long as 1.1256 minor resistance holds. Decisive break of 1.1154 key fibonacci level will confirm resumption of whole downtrend from 1.12555. That should then pave the way to 61.8% projection of 1.2004 to 1.1173 from 1.1444 at 1.0930. However, break of 1.1256 will indicate short term bottoming and turn back to the upside for 1.1310 support turned resistance first.

In the bigger picture, multiple rejection by 55 week EMA indicates medium term bearishness. Focus remains on 1.1154/98 support zone (2016 high and 61.8% retracement of 1.0629 to 1.2004 at 1.1154). Decisive break there will confirm resumption of whole down trend from 1.2004 and long term bearish reversal. EUR/CHF should then target 1.0629 support and below. This will now remain the favored case as long as 1.1444 resistance holds.

Pivot (invalidation): 1293.00

Our preference Short positions below 1293.00 with targets at 1283.00 & 1278.00 in extension.

Alternative scenario Above 1293.00 look for further upside with 1297.00 & 1300.00 as targets.

Comment The RSI is bearish and calls for further downside.

Pivot (invalidation): 2848.50

Our preference Long positions above 2848.50 with targets at 2874.00 & 2891.25 in extension.

Alternative scenario Below 2848.50 look for further downside with 2835.50 & 2817.00 as targets.

Comment The RSI is bullish and calls for further advance.

Pivot (invalidation): 11610.00

Our preference Long positions above 11610.00 with targets at 11709.00 & 11789.00 in extension.

Alternative scenario Below 11610.00 look for further downside with 11530.00 & 11470.00 as targets.

Comment The RSI advocates for further upside.

Swiss CPI rose 0.5% mom 0.7% yoy in March, above expectation of 0.4% mom, 0.5% yoy. The annually rate also accelerated from 0.6% yoy in February. But it's well off cyclical peak of 1.2% yoy made in mid-2018.

The FSD noted that the increase in CPI could be explained by several factors, including "rising prices for international package holidays and for air transport". Meanwhile, "prices for fruiting vegetables and berries decreased.

Full release here.

Pivot (invalidation): 5.4890

Our preference Long positions above 5.4890 with targets at 5.5620 & 5.6340 in extension.

Alternative scenario Below 5.4890 look for further downside with 5.4310 & 5.3850 as targets.

Comment The break above 5.4890 is a positive signal that has opened a path to 5.5620.

Pivot (invalidation): 0.7120

Our preference Short positions below 0.7120 with targets at 0.7100 & 0.7080 in extension.

Alternative scenario Above 0.7120 look for further upside with 0.7130 & 0.7145 as targets.

Comment A break below 0.7100 would trigger a drop towards 0.7080.

Pivot (invalidation): 1.3335

Our preference Short positions below 1.3335 with targets at 1.3295 & 1.3270 in extension.

Alternative scenario Above 1.3335 look for further upside with 1.3370 & 1.3400 as targets.

Comment As Long as 1.3335 is resistance, look for choppy price action with a bearish bias.