Daily Pivots: (S1) 0.9826; (P) 0.9850; (R1) 0.9874; More….
Intraday bias in EUR/CHF remains neutral for consolidation above 0.9804 temporary low. Upside of recovery should be limited by 1.0044 resistance. Break of 0.9804 will resume larger down trend to 0.9650 long term projection level.
In the bigger picture,long term down trend from 1.2004 (2018 high) is expected to target 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650. On the upside, break of 1.0513 resistance is needed to indicate medium term bottoming. Otherwise, outlook will stay bearish in case of strong rebound.
