Tue, Mar 28, 2023 @ 15:07 GMT

EUR/CHF Daily Outlook

Daily Pivots: (S1) 0.9909; (P) 0.9927; (R1) 0.9943; More….

Intraday bias in EUR/CHF remains on the downside as fall from 1.0040 is in progress. Such decline is seen as another falling leg inside the corrective pattern from 1.0095. Deeper fall would be seen back to 0.9844 support. But downside should be contained by 0.9832 to bring rebound. On the upside, above 0.9963 minor resistance will turn bias back to the upside for 1.0040 resistance instead.

In the bigger picture, with 0.9832 support intact, rise from 0.9407 (2022 low) is still expected to continue. Break of 1.0095 and sustained trading above 55 week EMA (now at 1.0021) will be a medium term bullish signal, and bring further rally to 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.

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