Daily Pivots: (S1) 0.9149; (P) 0.9176; (R1) 0.9192; More….
Intraday bias in EUR/CHF is turned neutral first with current retreat. On the upside, above 0.9198 will extend the rebound from 0.8979 short term bottom to 61.8% retracement of 0.9394 to 0.8979 at 0.9235. Sustained break there will pave the way to 0.9394 key resistance next. However, firm break of 0.9091 support will argue that the rebound has completed, and turn bias back to the downside for retesting 0.8979 low.
In the bigger picture, as long as 55 W EMA (now at 0.9286) holds, the larger down trend from 0.9928 (2024 high) is still expected to continue through 0.8979 at a later stage. However, sustained break of 55 W EMA should confirm medium term bottoming, and bring stronger rise through 0.9394 resistance, even as a corrective move.
