Daily Pivots: (S1) 0.9873; (P) 0.9884; (R1) 0.9897; More….
Intraday bias in EUR/CHF is turned neutral first as it continued to lose upside momentum ahead of 61.8% projection of 0.9304 to 0.9847 from 0.9563 at 0.9899. Further rally is expected as long as 0.9835 resistance turned support holds. Firm break of 0.9899 will pave the way to 100% projection at 1.0106, which is slightly above 1.0095 key structural resistance. However, break of 0.9835 will turn bias to the downside for deeper pullback.
In the bigger picture, as long as 0.9563 support holds, rise from 0.9252 medium term bottom is still in favor to continue. Next target is 38.2% retracement of 1.2004 (2018 high) to 0.9252 (2023 low) at 1.0303, even as a correction to the down trend from 1.2004.
