Daily Pivots: (S1) 0.9694; (P) 0.9750; (R1) 0.9791; More….
Intraday bias in EUR/CHF remains on the downside at this point. Current down trend should target 0.9650 long term projection level next. On the upside, break of 0.9948 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.
In the bigger picture,long term down trend from 1.2004 (2018 high) is expected to target 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650. On the upside, break of 1.0513 resistance is needed to indicate medium term bottoming. Otherwise, outlook will stay bearish in case of strong rebound.
