EUR/CHF Daily Outlook

Daily Pivots: (S1) 0.9520; (P) 0.9544; (R1) 0.9572; More….

Intraday bias in EUR/CHF is turned neutral first with current recovery. Some consolidations would be seen first, but upside should be limited below 0.9683 resistance to bring another fall. On the downside, sustained trading below 61.8% retracement of 0.9252 to 0.9928 at 0.9510 will raise the chance of long term down trend resumption, and target 0.9252 low next.

In the bigger picture, the break of 0.9563 support, as well as 55 W EMA (now at 0.9672) argues that rebound from 0.9252 has completed at 0.9928. Medium term bearish is maintained with both 1.0095 resistance intact. Firm break of 0.9252 will resume the down trend from 1.2004 (2018 high).

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