Daily Pivots: (S1) 0.9442; (P) 0.9467; (R1) 0.9482; More….
EUR/CHF’s break of 0.9448 support suggests that rebound from 0.9209 has completed at 0.9579, after rejection by 55 D EMA (now at 0.9569). That also keeps the whole decline from 0.9928 high intact. Intraday bias is back on the downside for retesting 0.9029 low next. For now, risk will stay on the downside as long as 0.9579 resistance holds, in case of recovery.
In the bigger picture, medium term corrective pattern from 0.9407 (2022 low) might have completed with three waves to 0.9928. Decisive break of 0.9252 (2023 low) will confirm long term down trend resumption. Next target will be 61.8% projection of 1.1149 to 0.9407 from 0.9928 at 0.8851. For now, outlook will stay bearish as long as 0.9928 resistance holds, even in case of strong rebound.
. That also keeps the whole decline from 0.9928 high intact. Intraday bias is back on the downside for retesting 0.9029 low next. For now, risk will stay on the downside as long as 0.9579 resistance holds, in case of recovery.){kind=link}