Daily Pivots: (S1) 0.9806; (P) 0.9827; (R1) 0.9869; More….
EUR/CHF’s rally from 0.9252 resumed by breaking through 0.9847 resistance. Intraday bias is back on the upside for 61.8% projection of 0.9304 to 0.9847 from 0.9563 at 0.9899. Decisive break there could prompt upside acceleration to 100% projection at 1.0106, which is slightly above 1.0095 key structural resistance. In case of retreat, outlook will now remain bullish as long as 0.9728 support holds.
In the bigger picture, as long as 0.9563 support holds, rise from 0.9252 medium term bottom is still in favor to continue. Break of 0.9847 resistance will target 38.2% retracement of 1.2004 (2018 high) to 0.9252 (2023 low) at 1.0303, even as a correction to the down trend from 1.2004.
