Daily Pivots: (S1) 0.9868; (P) 0.9878; (R1) 0.9889; More….
Intraday bias in EUR/CHF remains neutral for the moment. Strong support is still expected from 38.2% retracement of 0.9407 to 1.0095 at 0.9832 to complete the corrective pattern from 1.0095. On the upside, firm break of 0.9905 resistance will confirm short term bottoming, and turn bias back to the upside for 1.0067/95 resistance zone.
In the bigger picture, the rejection by 55 week EMA (now at 1.0025) mixed up the outlook. On the upside, sustained trading above 55 week EMA will raise the chance of bullish trend reversal. Rise from 0.9407 should then target 1.0505 cluster resistance (2020 low at 1.0505, 61.8% retracement of 1.1149 to 0.9407 at 1.1484). However, firm break of 0.9832 support will revive medium term bearishness and bring retest of 0.9407 low instead.