Daily Pivots: (S1) 0.9314; (P) 0.9341; (R1) 0.9376; More….
Intraday bias in EUR/CHF stays neutral first. On the downside, break of 0.9303 will revive the case that triangle consolidation pattern 0.9305 has already completed. Intraday bias will be back on the downside for retesting 0.9209 low next. For now, risk will stay on the downside as long as 0.9444 resistance holds, in case of another recovery.
In the bigger picture, fall from 0.9928 is seen as part of the long term down trend. Repeated rejection by 55 D EMA (now at 0.9408) keeps outlook bearish for breaking through 0.9209 low at a later stage. Nevertheless, sustained trading above 55 D EMA will confirm medium term bottoming at 0.9209 and bring stronger rebound back towards 0.9928 key resistance.
