Daily Pivots: (S1) 0.9056; (P) 0.9092; (R1) 0.9117; More….
Range trading continues in EUR/CHF and intraday bias stays neutral. Price actions from 0.9026 short term bottom are viewed as a consolidations pattern only. While stronger recovery cannot be ruled out, upside should be limited by 0.9168 cluster resistance (38.2% retracement of 0.9394 to 0.9026 at 0.9167). Another fall below 0.9026 to resume the larger down trend is expected at a later stage. However, decisive break of 0.9167/8 will bring stronger rebound to 55 D EMA (now at 0.9195) and possibly above.
In the bigger picture, down trend from 0.9928 (2024 high) is still in progress. 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 rebound.
. Another fall below 0.9026 to resume the larger down trend is expected at a later stage. However, decisive break of 0.9167/8 will bring stronger rebound to 55 D EMA (now at 0.9195) and possibly above.){kind=link}