EUR/CHF dived sharply to as low as 0.9204 last week after breaking out of consolidations. But it rebounded strongly after brief breach of 0.9209 low. Initial bias is turned neutral again this week. Some more consolidations would be seen again. Outlook will stay bearish as long as 0.9364 resistance holds. Firm break of 0.9204/9 will indicate larger down trend resumption.
In the bigger picture, outlook will now stay bearish as long as 0.9444 resistance holds. Decisive break of 0.9209 low will resumed long term down trend to 61.8% projection of 0.9772 to 0.9209 from 0.9444 at 0.9096 next.
In the long term picture, fall from 1.2004 (2018 high) is part of the multi-decade down trend. 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 to 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.
