Daily Pivots: (S1) 0.9582; (P) 0.9607; (R1) 0.9647; More…
Intraday bias in EUR/CHF remains neutral first and further rise is in favor. Break of 0.9627 will resume the rebound from 0.9416 to 0.9691 key structural resistance. Firm break there will carry larger bullish implication. On the downside, below 0.9555 will turn bias to the downside for deeper pullback.
In the bigger picture, down trend from 1.2004 (2018 high) is still in progress. Decisive break of 0.9407 will confirm resumption, and target 61.8% projection of 1.1149 to 0.9407 from 1.0095 at 0.9018. On the upside, break of 0.9691, however, will indicate medium term bottoming just ahead of 0.9407. Further rally could then be seen back towards 1.0095 resistance.
