Daily Pivots: (S1) 0.9260; (P) 0.9286; (R1) 0.9305; More…
EUR/CHF’s decline from 0.9452 continues and intraday bias stays on the downside. Decisive break of 0.9265 support should confirm that whole corrective pattern from 0.9218 has completed with three waves to 0.9452. Deeper decline should be send to 0.9204/18 support zone. Firm break there will bring larger down trend resumption. On the upside, above 0.9309 minor resistance will 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. Bearishness is reaffirmed by rejection at 55 W EMA (now at 0.9405). Firm break of 0.9204 will confirm down trend resumption. On the upside, break of 0.9452 resistance is needed to be the first sign of bullish reversal, and break of 0.9660 is needed to confirm.
