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Daily Pivots: (S1) 140.66; (P) 143.58; (R1) 145.08; More...

Intraday bias in USD/JPY remains on the downside as fall from 146.48 is in progress for retesting 139.578. Strong support could be seen again from 139.26 fibonacci level to bring rebound. However, firm break of 139.26 will carry larger bearish implications.

In the bigger picture, fall from 161.94 medium term top is seen as correcting whole up trend from 102.58 (2021 low). Strong support could be seen from 38.2% retracement of 102.58 to 161.94 at 139.26 to contain downside, at least on first attempt. But in any case, risk will stay on the downside as long as 149.35 resistance holds. Sustained break of 139.26 would open up deeper medium term decline to 61.8% retracement at 125.25.

Daily Pivots: (S1) 1.3346; (P) 1.3387; (R1) 1.3414; More...

Intraday bias in GBP/USD remains neutral and more consolidations could be seen below 1.3433 temporary top. Further rally is expected as long as 1.3265 resistance turned support holds. Above 1.3433 will resume larger rise to 100% projection of 1.2664 to 1.3265 from 1.3000 at 1.3601 next. Nevertheless, considering bearish divergence condition in 4H MACD, firm break of 1.3265 will indicate short term topping and turn bias back to the downside for 1.3000 support instead.

In the bigger picture, up trend from 1.0351 (2022 low) is in progress. Next target is 61.8% projection of 1.0351 to 1.3141 from 1.2298 at 1.4022. For now, outlook will stay bullish as long as 1.3000 support holds, even in case of deep pullback.

Daily Pivots: (S1) 0.8374; (P) 0.8433; (R1) 0.8465; More…

Intraday bias in USD/CHF remains neutral as range trading continues above 0.8374. Further decline is in favor with 0.8548 resistance intact. On the downside, break of 0.8374 will resume the fall from 0.9223 to retest 0.8332 low. Decisive break there will indicate larger down trend resumption. Nevertheless, firm break of 0.8548 will turn bias back to the upside for stronger rebound to 0.8747 resistance instead.

In the bigger picture, price actions from 0.8332 (2023 low) are currently seen as a medium term corrective pattern, with fall from 0.9223 as the second leg. Strong support could be seen from 0.8332 to bring rebound. Yet, overall outlook will continue to stay bearish as long as 0.9243 resistance holds. Firm break of 0.8332, however, will resume larger down trend from 1.0146 (2022 high).

Daily Pivots: (S1) 0.6868; (P) 0.6902; (R1) 0.6937; More...

Intraday bias in AUD/USD remains on the upside for the moment. Current rally from 0.6340 should target 100% projection of 0.6348 to 0.6823 from 0.6621 at 0.7096. On the downside, below 0.6867 minor support will turn intraday bias neutral first.

In the bigger picture, overall, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern, with rise from 0.6269 as the third leg. Firm break of 0.6870 resistance will target 100% projection of 0.6269 to 0.6870 from 0.6340 at 0.6941, and then 138.2% projection at 0.7179. This will now remain the favored case as long as 0.6621 support holds.

Daily Pivots: (S1) 1.3477; (P) 1.3502; (R1) 1.3540; More...

Intraday bias in USD/CAD remains neutral for the moment. While recovery from 1.3418 might extend higher, outlook will stay bearish as long as 1.3646 resistance holds. On the downside, break of 1.3418 will resume the fall from 1.3946 to 61.8% projection of 1.3946 to 1.3439 from 1.3646 at 1.3333.

In the bigger picture, corrective pattern from 1.3976 (2022 high) is extending with another falling leg. While deeper decline could be seen, strong support should emerge above 1.2947 resistance turned support to bring rebound. Rise from 1.2005 (2021 low) is still in favor to resume at a later stage.

Swiss KOF Economic Barometer edged higher in September, rising from 105.0 to 105.5, surpassing market expectations of 102.0. This modest increase reflects a slow but steady recovery in the Swiss economy, with KOF noting that "the Swiss economy is slowly working its way out of the trough."

According to KOF, nearly all sectors show signs of a more favorable outlook. Manufacturing industry, in particular, has seen the most significant improvement, while financial and insurance services, construction, and other service sectors also show positive momentum.

Hospitality industry continues to maintain above-average prospects, with little change compared to prior months. On the demand side, consumer demand indicators remain stable and point to further growth. However, KOF highlighted that indicators for future foreign demand have weakened, suggesting potential challenges for Swiss exports going forward.

Full Swiss KOF release here.

Daily Pivots: (S1) 0.9348; (P) 0.9413; (R1) 0.9449; More....

Intraday bias in EUR/CHF stays neutral for the moment. On the upside, above 0.9506 will resume the rebound from 0.9305 to 0.9579 resistance. However, break of 0.9305 will resume the fall for 0.9579 to retest 0.9209 low.

In the bigger picture, medium term corrective pattern from 0.9407 (2022 low) might have completed with three waves to 0.9928. Decisive break of 0.9252 (2023 low) will confirm long term down trend resumption. Next target will be 61.8% projection of 1.1149 to 0.9407 from 0.9928 at 0.8851. For now, outlook will stay bearish as long as 0.9928 resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 0.8330; (P) 0.8340; (R1) 0.8358; More...

Intraday bias in EUR/GBP remains neutral for the moment, and more consolidations could be seen above 0.8316. Outlook will stay bearish as long as 0.8399 support turned resistance holds. On the downside, below 0.8316 will resume the fall from 0.8624 to 100% projection of 0.8624 to 0.8399 from 0.8463 at 0.8237 next.

In the bigger picture, down trend from 0.9267 (2022 high) is in progress. Next target is 0.8201 (2022 low), but strong support should be seen there to bring rebound. However, outlook will remain bearish as long as 0.8624 resistance holds even in case of strong rebound.

Daily Pivots: (S1) 1.6112; (P) 1.6181; (R1) 1.6245; More...

Intraday bias in EUR/AUD remains on the downside. Fall from 1.7180 is in progress for 61.8% projection of 1.7180 to 1.6256 from 1.6629 at 1.6058, and possibly below. But strong support should be seen from 1.5996 to contain downside and bring rebound. On the upside, above 1.6249 minor resistance will turn intraday bias neutral first.

In the bigger picture, outlook is mixed up by the deeper than expected fall from 1.7180. Yet as long as 1.5996 support holds, up trend from 1.4281 (2022 low) is still in favor to resume at a later stage. However, decisive break of 1.5996 will argue that the medium term trend has reversed.

Daily Pivots: (S1) 188.10; (P) 192.03; (R1) 194.06; More...

GBP/JPY's break of 190.11 support suggests that corrective pattern from 180.00 has completed with three waves up to 195.95 already. Intraday bias is now on the downside. Deeper decline would be seen back to 183.70 support next. For now, risk will stay on the downside as long as 195.95 resistance holds, in case of recovery.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.