Daily Pivots: (S1) 0.9340; (P) 0.9352; (R1) 0.9365; More…
Intraday bias in EUR/CHF stays neutral at this point. Fall from 0.9471 might extend lower through 0.9304. But downside should be contained above 0.9252 low to bring rebound. On the upside, firm break of 0.9363 minor resistance will argue that the correction from 0.9471 has completed, and turn bias back to the upside for 0.9471 first.
In the bigger picture, price actions from 0.9252 are tentatively seen as a correction to the five-wave down trend from 1.0095 (2023 high). Further rise would be seen to 38.2% retracement of 1.0095 to 0.9252 at 0.9574. But overall medium term outlook will remain bearish as long as 0.9683 resistance holds.
