Daily Pivots: (S1) 1.0125; (P) 1.0183; (R1) 1.0211; More….
EUR/CHF drops further to as low as 1.0115 so far and intraday bias remains on the downside. Current fall is part of the down trend from 1.1149, and should target 100% projection of 1.0936 to 1.0298 from 1.0610 at 0.9972. On the upside, break of 1.0251 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.
In the bigger picture, long term down trend from 1.2004 (2018 high) is still in progress. Next target is 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650. In any case, break of 1.0610 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish.
