Daily Pivots: (S1) 0.9537; (P) 0.9559; (R1) 0.9595; More….
Intraday bias in EUR/CHF remains on the upside as rise form 0.9209 short term bottom is extending. Further rally should be seen to 55 D EMA (now at 0.9592). Sustained break there will target 0.9772 resistance next. On the downside, below 0.9496 minor support will turn intraday bias neutral first.
In the bigger picture, medium term corrective pattern from 0.9407 (2022 low) might have completed with three waves to 0.9928. Decisive break of 0.9252 (2023 low) will confirm long term down trend resumption. Next target will be 61.8% projection of 1.1149 to 0.9407 from 0.9928 at 0.8851. For now, outlook will stay bearish as long as 0.9928 resistance holds, even in case of strong rebound.
. Sustained break there will target 0.9772 resistance next. On the downside, below 0.9496 minor support will turn intraday bias neutral first.){kind=link}