EUR/CHF edged higher to 0.9793 last week but turned sideway since then. Still, a short term bottom should be in place after hitting 61.8% retracement of 0.9407 to 1.0095 at 0.9670. Further rally is in favor. Break of 0.9793 and sustained trading above 55 D EMA (now at 0.9778) will add to case that whole correction from 1.0095 has completed Intraday bias will be back on the for 0.9878 resistance next.
In the bigger picture, prior rejection by 38.2% retracement of 1.1149 to 0.9407 at 1.0072 suggests that medium term outlook is staying bearish. The pair is also capped below 55 W EMA (now at 0.9924). Down trend from 1.2004 (2018 high) is not complete yet and is in favor to resume through 0.9407 at a later stage. However, decisive break of 1.0095 resistance will raise the chance of bullish trend reversal. Rise from 0.9407 should then target 1.0505 cluster resistance (2020 low at 1.0505, 61.8% retracement of 1.1149 to 0.9407 at 1.1484).
In the long term picture, it’s still way too early too call for bullish trend reversal with upside capped well below 55 M EMA (now at 1.0484) and 1.0505 support turned resistance (2020 low). The multi-decade down trend could still continue.
 will add to case that whole correction from 1.0095 has completed Intraday bias will be back on the for 0.9878 resistance next.){kind=link}