Daily Pivots: (S1) 0.9660; (P) 0.9672; (R1) 0.9695; More…
Intraday bias in EUR/CHF is back on the upside with break of 0.9678 resistance. Rise from 0.9416 is now resuming. Decisive break to 0.9891 will carry larger bullish implication, and target 0.9840 resistance next. On the downside, however, break of 0.9620 support will indicate short term topping, and turn bias back to the downside for deeper pull back.
In the bigger picture, fall from 1.0095 (2023 high) might have completed at 0.9416, just ahead of 0.9407 support (2022 low). Sustained break of 0.9691 cluster resistance (38.2% retracement of 1.0095 to 0.9416 at 0.9675) will pave the way to 61.8% retracement at 0.9836 and above. However, rejection by 0.9691 will maintain medium term bearishness for another test on 0.9407 at least.
