EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.3690; (P) 1.3753; (R1) 1.3792; More

Another rise is still in favor in EUR/CHF with 1.3629 minor support intact. But still, we'd continue to focus on reversal signal inside 1.3733/4039 resistance zone. On the downside, below 1.3629 minor support will flip intraday bias back to the downside. Further break of 1.3341 will indicate that recovery from 1.3072 is completed and target a retest of this low.

In the bigger picture, EUR/CHF's down trend from 2007 high of 1.6827 is still in progress and accelerated after breaking out 1.4315 support. Next target will be 100% projection of 1.8234 to 1.4391 from 1.6827 at 1.2984, which is close to 1.3 psychological level. On the upside, break of 1.4002 resistance is needed to be the first signal of medium term reversal. Otherwise, outlook will remain bearish.

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