Daily Pivots: (S1) 0.9582; (P) 0.9617; (R1) 0.9635; More….
Intraday bias in EUR/CHF is turned neutral as it retreated after failing to sustain above 100% projection of 0.9204 to 0.9516 from 0.9331 at 0.9643. Further rally is expected as long as 0.9489 support holds. Firm break of 0.9643 will pave the way to 161.8% projection at 0.9836 next.
In the bigger picture, the strong break of 55 W EMA (now at 0.9482) is a medium term bullish sign. Sustained break trading above long-term falling channel resistance (at around 0.9620) would suggest that the downtrend from 1.2004 (2018 high) has bottomed at 0.9204. Stronger rally should then be see to 0.9928 key resistance at least.
