Daily Pivots: (S1) 0.9465; (P) 0.9543; (R1) 0.9588; More….
EUR/CHF’s break of 0.9464 indicates down trend resumption. Intraday bias is back on the downside for 61.8% projection of 1.0512 to 0.9550 from 0.9864 at 0.9269. On the upside, break of 0.9712 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain 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 138.2% projection of 1.2004 to 1.0505 to 1.1149 at 0.9033. On the upside, break of 0.9864 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of strong rebound.