Daily Pivots: (S1) 1.0248; (P) 1.0314; (R1) 1.0352; More….
Intraday bias in EUR/CHF remains on the downside for 61.8% projection of 1.0936 to 1.0298 from 1.0610 at 1.0216. Firm break there will target 100% projection at 0.9972. On the upside, break of 1.0446 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.
In the bigger picture, long term down trend from 1.2004 (2018 high) is still in progress. Next target is 61.8% projection of 1.2004 to 1.0505 to 1.1149 at 1.0223. Sustained break there will target 100% projection at 0.9650. In any case, break of 1.0610 resistance is needed to be the first sign of bottoming. Otherwise, outlook will remain bearish.
