Daily Pivots: (S1) 0.9258; (P) 0.9283; (R1) 0.9298; More….
EUR/CHF’s break of 0.9292 support indicates that deeper decline is underway. Risk will stay on the downside as long as 0.9361 resistance holds. Retest of 0.9218 low should be seen next. Firm break there will resume larger down trend.
In the bigger picture, while downside momentum has been diminishing as seen in W MACD, there is no sign of bottoming yet. EUR/CHF is still staying below 55 W EMA (now at 0.9424) and well inside long term falling channel. Outlook will stay bearish as long as 0.9660 resistance holds. Break of 0.9204 (2024 low) will confirm resumption of down trend from 1.2004 (2018 high).