Daily Pivots: (S1) 0.9160; (P) 0.9213; (R1) 0.9289; More….
EUR/CHF’s rebound from 0.8979 resumed by breaking through 0.9198 temporary top. Intraday bias is back on the upside. Sustained trading above 61.8% retracement of 0.9394 to 0.8979 at 0.9235 will pave the way to 0.9394 key resistance next. On the downside, below 0.9155 minor support will turn intraday bias neutral first.
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.
