Daily Pivots: (S1) 0.9339; (P) 0.9379; (R1) 0.9406; More….
EUR/CHF’s fall from 0.9579 is in progress and intraday bias stays on the downside. Sustained break of 61.8% retracement of 0.9209 to 0.9579 at 0.9350 will pave the way to retest 0.9209 low. On the upside, above 0.9418 minor resistance will turn intraday bias neutral first. But rise will stay on the downside as long as 0.9579 resistance holds.
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.
