Daily Pivots: (S1) 0.9496; (P) 0.9519; (R1) 0.9548; More….
Intraday bias in EUR/CHF remains neutral at this point. Strong support is expected from 0.9489 to complete the correction from 0.9660. On the upside, above 0.9581 minor resistance will bring retest of 0.9660 first. However, sustained break of 0.9489 will dampen this view, and bring deeper fall back to 0.9331 support next.
In the bigger picture, prior strong break of 55 W EMA (now at 0.9487) is a medium term bullish sign. Sustained break trading above long-term falling channel resistance (at around 0.9618) would suggest that the downtrend from 1.2004 (2018 high) has bottomed at 0.9204. Stronger rally should then be seen to 0.9928 key resistance at least.
