EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0604; (P) 1.0640; (R1) 1.0663; More

EUR/CHF is staying in consolidation from 1.0584 and intraday bias remains neutral. Further decline is expected with 1.0737 resistance intact. On the downside, break of 1.0584 will extend recent down trend to 100% projection of 1.1476 to 1.0811 from 1.1059 at 1.0394 next. However, firm break of 1.0737 will indicate short term bottoming and bring stronger rebound.

In the bigger picture, down trend from 1.2004 is (2018 high) is still in progress. While initial support might be seen from 1.0629 on first attempt, outlook will stay bearish as long as 1.1059 resistance holds. Decisive break of 1.0629 will pave the way to parity next.

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