Daily Pivots: (S1) 0.9580; (P) 0.9605; (R1) 0.9652; More…
EUR/CHF’s rebound from 0.9416 is still in progress and intraday bias stays on the upside. Further rally would be seen to 0.9691 key structural resistance. Firm break there will carry larger bullish implication. On the downside, though, below 0.9555 minor support will turn intraday bias neutral first.
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, however, will indicate medium term bottoming just ahead of 0.9407. Further rally could then be seen back towards 1.0095 resistance.
