EUR/CHF’s break of 0.9200 resistance suggests short term bottoming at 0.9122, on bullish divergence condition in 4H MACD. Intraday bias is back on the upside for stronger rebound to 0.9258 cluster resistance (38.2% retracement of 0.9485 to 0.9122 at 0.9261. Strong resistance could be seen from there to limit upside. On the downside, break of 0.9122 will resume the fall from 0.9485 instead.
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.
