[ad_1]
Daily Pivots: (S1) 0.9286; (P) 0.9300; (R1) 0.9310; More….
Intraday bias in EUR/CHF stays neutral at this point. On the downside, decisive break of 0.9292 support will bring deeper decline to retest 0.9218 low. On the upside, above 0.9361 will suggest that corrective pattern from 0.9445 has completed, and target 0.9428/45 resistance zone.
In the bigger picture, while downside momentum has been diminishing as seen in W MACD, there is no sign of bottoming yet. EUR/CHF is still staying below 55 W EMA (now at 0.9424) and well inside long term falling channel. Outlook will stay bearish as long as 0.9660 resistance holds. Break of 0.9204 (2024 low) will confirm resumption of down trend from 1.2004 (2018 high).
[ad_2]
Source link
