Daily Pivots: (S1) 0.9393; (P) 0.9413; (R1) 0.9448; More….
Intraday bias in EUR/CHF remains neutral for the moment. Deeper decline is still expected with 0.9444 resistance intact. Below 0.9305 will resume the fall from 0.9579 to retest 0.9209 low. Nevertheless, firm break of 0.9444 will argue that the pull back from 0.9579 has completed as a correction, and bring further rally back to this resistance.
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.
