Daily Pivots: (S1) 0.9377; (P) 0.9394; (R1) 0.9427; More….
EUR/CHF is still bounded in established range and intraday bias stays neutral. On the upside, break of 0.9428/45 resistance zone will resume the rebound from 0.9218, target 100% projection of 0.9218 to 0.9445 from 0.9306 at 0.9533. On the downside, break of 0.9291 will bring retest of 0.9218 low instead.
In the bigger picture, prior rejection by long-term falling channel resistance (now at 0.9511) retains medium term bearishness. That is, down trend from 1.2004 (2018 high) is still in progress. Firm break of 0.9204 (2024 low) will confirm resumption. This will remain the favored case as long as 0.9660 resistance holds.
