Mon, May 29, 2023 @ 22:17 GMT

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0292; (P) 1.0310; (R1) 1.0339; More….

Intraday bias in EUR/CHF stays neutral and further decline is in favor with 1.0349 resistance intact. Break of 1.0216 support will reaffirm the case that corrective rebound from 0.9970 has completed at 1.0513. Deeper fall would be seen to 1.0086 support next. However, above 1.0349 will dampen this bearish view and bring stronger rebound back towards 1.0513 resistance.

In the bigger picture, as long as 1.0505 support turned resistance (2020 low) holds, long term down trend from 1.2004 (2018 high) is expected to continue. Next target is 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650. However, firm break of 1.0505 will suggest medium term bottoming, and bring stronger rebound towards 1.1149 structural resistance.

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