Daily Pivots: (S1) 0.9558; (P) 0.9586; (R1) 0.9640; More….
EUR/CHF recovered quickly after dipping to 0.9530. Intraday bias is turned neutral first. But outlook stays bearish as long as 0.9864 resistance holds Break of 0.9530 will resume larger down to 61.8% projection of 1.0512 to 0.9550 from 0.9864 at 0.9269.
In the bigger picture, long term down trend from 1.2004 (2018 high) is still in progress. Next target is 138.2% projection of 1.2004 to 1.0505 to 1.1149 at 0.9033. On the upside, break of 0.9970 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of strong rebound.
