Daily Pivots: (S1) 0.9088; (P) 0.9115; (R1) 0.9162; More….
EUR/CHF extended rebound and firm break of 0.9092 support turned resistance suggests short term bottoming at 0.8979. Sustained trading above 38.2% retracement of 0.9394 to 0.8979 at 0.9138 will pave the way to 61.8% retracement at 0.9235. On the downside, below 0.9067 minor support will turn intraday bias back to the downside for retesting 0.8979 low 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.
