Daily Pivots: (S1) 1.0182; (P) 1.0212; (R1) 1.0235; More….
EUR/CHF is losing some downside momentum but there is no sign of bottoming yet. Intraday bias remains mildly on the downside. Fall from 1.0369 is seen as the third leg of the corrective pattern from 1.0400. Deeper decline could be seen to 1.0086 support. On the upside, above 1.0289 minor resistance will turn intraday bias neutral first. Further break of 1.0400 resistance will resume the rebound from 0.9970 to 1.0610 structural resistance instead.
In the bigger picture, long term down trend from 1.2004 (2018 high) is still in progress. Next target is 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650. In any case, sustained break of 1.0505 support turned resistance (2020 low) is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish.
