Daily Pivots: (S1) 0.9449; (P) 0.9481; (R1) 0.9531; More…
EUR/CHF’s firm break of 0.9471 resistance confirms resumption of rise from 0.9252. Intraday bias stays on the upside for 100% projection of 0.9252 to 0.9471 from 0.9304 at 0.9523. On the downside, below 0.9428 minor support will turn intraday bias neutral and bring consolidations first.
In the bigger picture, price actions from 0.9252 are tentatively seen as a correction to the five-wave down trend from 1.0095 (2023 high). Further rise would be seen to 38.2% retracement of 1.0095 to 0.9252 at 0.9574. But overall medium term outlook will remain bearish as long as 0.9683 resistance holds.
