Daily Pivots: (S1) 0.9665; (P) 0.9678; (R1) 0.9688; More….
EUR/CHF’s fall from 0.9772 resumed by breaking through 0.9641 support and intraday bias is back on the downside. Next target is 61.8% retracement of 0.9476 to 0.9772 at 0.9589. Sustained break there will target 0.9476 low. For now, risk will stay on the downside as long as 0.9690 resistance holds, in case of recovery.
In the bigger picture, rebound from 0.9252 medium term bottom might not be completed yet. But even in case of resumption, strong resistance could emerge from 1.0095 to limit upside. Medium term outlook will be neutral at best as long as 1.0094 structural resistance holds. Meanwhile, break of 0.9476 will bring retest of 0.9252 low.
