Daily Pivots: (S1) 0.9111; (P) 0.9146; (R1) 0.9164; More….
EUR/CHF’s down trend resumed by breaking through 0.9141 support and intraday bias is back on the downside. Next target is 261.8% projection of 0.9394 to 0.9268 from 0.9347 at 0.9017. On the upside, however, break of 0.9180 resistance will now indicate short term bottoming, and bring lengthier consolidations.
In the bigger picture, down trend from 0.9928 (2024 high) is still in progress with falling 55 W EMA (now at 0.9334) intact. Next target is 61.8% projection of 1.1149 to 0.9407 from 0.9928 at 0.8851. Outlook will stay bearish as long as 0.9394 resistance holds, in case of recovery.
