EURCHF Outlook

EUR/CHF rose further to 0.9234 last week but retreated since then. Initial bias remains neutral this week for some consolidations. Outlook is unchanged that corrective fall from 0.9264 should have completed at 0.9094. Above 0.9234 will bring retest of 0.9264 first. Firm break there will resume the rally from 0.8979 to 100% projection of 0.8979 to 0.9264 from 0.9094 at 0.9379. Risk will now stay on the upside as long as 0.9155 support holds.

In the bigger picture, as long as 0.9394 resistance holds, down trend from 0.9928 (2024 high) could still be in progress. Firm break of 0.8979 will confirm down trend resumption. However, decisive break of 0.9394 will be an important sign of medium term bullish reversal.

In the long term picture, outlook will stay bearish as long as 0.9407 support turned resistance (2022 low) holds. However, firm break of 0.9407 will argue that the down trend from 1.2004 (2018 high) has completed with five waves down to 0.8979. Stronger rebound should then be seen to 38.2% retracement of 1.2004 to 0.8979 at 1.0135 in the medium term.

EUR/CHF is staying in consolidations below 0.9234 temporary top and intraday bias remains neutral first. Further rise is expected as long as 0.9155 support holds. Above 0.9234 will bring retest of 0.9264 resistance first. Firm break there will resume the rise from 0.8979 to 100% projection of 0.8979 to 0.9264 from 0.9094 at 0.9379.

In the bigger picture, as long as 0.9394 resistance holds, down trend from 0.9928 (2024 high) should still be in progress. Firm break of 0.8979 will confirm down trend resumption. However, decisive break of 0.9394 will be an important sign of medium term bullish reversal.

Intraday bias in EUR/CHF is turned neutral again with current retreat, and some consolidations would be seen below 0.9234 temporary top. Further rise is expected as long as 0.9155 support holds. Above 0.9234 will bring retest of 0.9264 resistance first. Firm break there will resume the rise from 0.8979 to 100% projection of 0.8979 to 0.9264 from 0.9094 at 0.9379.

In the bigger picture, as long as 0.9394 resistance holds, down trend from 0.9928 (2024 high) should still be in progress. Firm break of 0.8979 will confirm down trend resumption. However, decisive break of 0.9394 will be an important sign of medium term bullish reversal.