EUR/CHF Daily Outlook

Daily Pivots: (S1) 0.9493; (P) 0.9529; (R1) 0.9574; More

Intraday bias in EUR/CHF stays on the upside at this point. Rebound from 0.9416 short term bottom is in progress. Sustained break of 55 D EMA (now at 0.9570) will bring further rise to 0.9691 key structural resistance. On the downside, though, below 0.9457 support will bring retest of 0.9407/16 zone.

In the bigger picture, down trend from 1.2004 (2018 high) is still in progress. Decisive break of 0.9407 will confirm resumption, and target 61.8% projection of 1.1149 to 0.9407 from 1.0095 at 0.9018. On the upside, break of 0.9691 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish.

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