Technical Outlook EURCHF Outlook EUR/CHF Daily Outlook

EUR/CHF Daily Outlook

Daily Pivots: (S1) 0.9883; (P) 0.9906; (R1) 0.9929; More….

Intraday bias in EUR/CHF is turned neutral with current retreat. But further rise is expected as long as 0.9880 minor support holds. Above 0.9928 will resume whole rally from 0.9252 to 100% projection of 0.9304 to 0.9847 from 0.9563 at 1.0106, which is slightly above 1.0095 key structural resistance. However, firm break of 0.9880 support will indicate short term topping, and turn bias to the downside for 38.2% retracement of 0.9563 to 0.9928 at 0.9789.

In the bigger picture, as long as 0.9728 support holds, rise from 0.9252 medium term bottom is still in favor to continue. Next target is 38.2% retracement of 1.2004 (2018 high) to 0.9252 (2023 low) at 1.0303, even just as a correction to the down trend from 1.2004.



Please enter your comment!
Please enter your name here

Exit mobile version