Daily Pivots: (S1) 0.9627; (P) 0.9638; (R1) 0.9661; More…
Further rally is expected in EUR/CHF as long as 0.9564 minor support holds. Current rebound from 0.9416 should target 0.9691 resistance first. Firm break there will argue that whole decline from 1.0095 has completed at 0.9416, just ahead of 0.9407 support (2022 low). Further rally would be seen to 0.9840 resistance.
In the bigger picture, as long as 1.0095 resistance holds, price actions from 0.9407 are viewed as a three-wave consolidation pattern first. Current rise from 0.9416 might be the third leg. That is, larger down trend from 1.2004 (2018 high) might still resume through 0.9407 at a later stage. However, decisive break of 1.0095 will argue that the long term down trend is reversing.
.%20Further%20rally%20would%20be%20seen%20to%200.9840%20resistance.){kind=link}