Daily Pivots: (S1) 0.9656; (P) 0.9683; (R1) 0.9723; More….
EUR/CHF’s break of 0.9683 resistance argues that fall from 0.9928 has completed at 0.9476, probably as a corrective move. Intraday bias is back on the upside for retesting 0.9928 high. On the downside, however, break of 0.9608 will bring retest of 0.9476 support instead.
In the bigger picture, rebound from 0.9252 medium term bottom might not be completed yet. But even in case of resumption, strong resistance could emerge from 1.0095 to limit upside. Medium term outlook will be neutral at best as long as 1.0094 structural resistance holds. Meanwhile, break of 0.9476 will bring retest of 0.9252 low.
