Daily Pivots: (S1) 0.9349; (P) 0.9368; (R1) 0.9402; More….
No change in EUR/CHF’s outlook as range trading continues. Intraday bias remains neutral. On the upside, break of 0.9428/45 resistance zone will resume the rebound from 0.9218. However, break of 0.9306 will turn bias back to the downside for retesting 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.
