Daily Pivots: (S1) 0.9206; (P) 0.9219; (R1) 0.9244; More….
Intraday bias in EUR/CHF is turned neutral first with current recovery and some consolidations would be seen first. Further fall is expected as long as 0.9268 support turned resistance holds. Below 0.9192 will bring retest of 0.9178 low. Firm break there will resume larger down trend.
In the bigger picture, another rejection by 55 W EMA (now at 0.9350) keeps outlook bearish. Downtrend from 1.2004 (2018 high) is still in progress. Firm break of 0.9178 will target 61.8% projection of 1.1149 to 0.9407 from 0.9928 0.8851. Outlook will stay bearish as long as 0.9394 resistance holds, in case of recovery.
