Single‐crystal films of Ni&sngbnd;Fe prepared by vapor deposition onto (100) planes of heated rocksalt substrates exhibit high‐speed and quasistatic magnetization switching behavior which is characteristic of biaxial elements and is not found in uniaxial or isotropic films. The biaxial critical curve for coherent‐rotational switching can be combined with partial switching and labyrinth‐switching concepts, adapted from observations in uniaxial films, to provide a semiquantitative explanation for observations in single‐crystal films. Direct verification of switching models here inferred from electronic measurements, and limited Bitter studies, will require Lorentz microscopy or detailed Bitter studies of walls formed during the switching process.