Daily Pivots: (S1) 0.9413; (P) 0.9438; (R1) 0.9471; More…
EUR/CHF recovered after breaching 0.9407 low briefly and intraday bias is turned neutral. Some consolidations would be seen but further fall is expected as long as 0.9543 resistance holds. Decisive break of 0.9407 will resume larger down trend.
In the bigger picture, medium term outlook remains bearish as long as 0.9683 resistance holds. Firm break of 0.9407 (2022 low) will resume long term down trend. Next target will be 61.8% projection of 1.1149 to 0.9407 from 1.0095 at 0.9018.
