Daily Pivots: (S1) 0.9308; (P) 0.9347; (R1) 0.9376; More….
Fall from 0.9452 continues today and intraday bias stays on the downside. Corrective rebound from 0.9218 should have completed with three waves up to 0.9452. Break of 0.9265 support will confirm and bring retest of 0.9218 low. On the upside, above 0.9363 minor resistance will mix up the outlook and turn intraday bias neutral first.
In the bigger picture, the down trend from 0.9204 (2018 high) might still be in progress considering that EUR/CHF is staying well inside the long term falling channel. However, with bullish convergence condition in W MACD, downside potential should be limited in case of another fall. Instead, firm break of 0.9660 resistance will be an important sign of medium term bullish trend reversal.
