EUR/CHF’s decline from 0.9485 continues today and there is no sign of bottoming yet. With 61.8% retracement of 0.8979 to 0.9485 at 0.9172 taken out, next target is 0.9094 support. Firm break there will pave the way to 0.8979 low. On the upside, above 0.9193 minor resistance will turn bias neutral and bring consolidations first.
In the bigger picture, current development suggests that rise from 0.8979 has completed as a three wave corrective move at 0.9485. Medium term bearishness is revived and larger down trend from 0.9928 (2024 high) is likely still in progress. Break of 0.8979 low is in favor at a later stage.
