EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.4493; (P) 1.4535; (R1) 1.4565; More

Intraday in EUR/CHF remains on the downside and current fall, which is part of the whole decline from 1.5880, is still expected to continue towards 1.4315 key support next. On the upside, above 1.4536 minor resistance will turn intraday bias neutral first. But upside should be limited below 1.4630 resistance and bring fall resumption.

In the bigger picture, current development confirms that EUR/CHF's fall from 1.5880 has resumed. Also, as the cross is still staying well below a falling 55 weeks EMA, current decline might be resuming longer term down trend from 2007 high of 1.6827. Next medium term target will be 100% projection of 1.5880 to 1.4557 from 1.5446 at 1.4123 after taking out 1.4135 low (2008 low). On the upside, break of 1.4820 spike resistance is needed to be first signal of bottoming. Otherwise, outlook will remain bearish.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box