Daily Pivots: (S1) 0.9270; (P) 0.9297; (R1) 0.9314; More….
EUR/CHF’s fall resumed through 0.9303 temporary low and intraday bias is back on the downside. Further fall should now be seen to retest 0.9209 low next. On the upside, above 0.9310 minor resistance will turn intraday bias neutral again first.
In the bigger picture, fall from 0.9928 is seen as part of the long term down trend. Repeated rejection by 55 D EMA (now at 0.9395) keeps outlook bearish for breaking through 0.9209 low at a later stage. Nevertheless, sustained trading above 55 D EMA will confirm medium term bottoming at 0.9209 and bring stronger rebound back towards 0.9928 key resistance.
