Daily Pivots: (S1) 0.9364; (P) 0.9387; (R1) 0.9406; More….
Intraday bias in EUR/CHF stays neutral and further decline is expected with 0.9455 resistance intact. On the downside, break of 0.9351 will resume the fall from 0.9579 to retest 0.9209 low. However, break of 0.9497 will turn bias back to the upside for 0.9579 resistance instead.
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.
