Daily Pivots: (S1) 0.9030; (P) 0.9051; (R1) 0.9083; More….
EUR/CHF’s corrective recovery from 0.8979 extends higher today and outlook is unchanged. Intraday bias remains neutral and further decline is expected with 0.9092 support turned resistance intact. On the downside, firm break of 0.8979 will resume larger down trend. However, break of 0.9092 will bring stronger rebound to 0.9149 resistance instead.
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.
