Daily Pivots: (S1) 0.9267; (P) 0.9286; (R1) 0.9299; More….
EUR/CHF’s strong rally and break of 0.9321 minor resistance suggests that rebound from 0.9204 short term bottom is resuming. Intraday bias is back on the upside. Firm break of 0.9343 will target 100% projection of 0.9204 to 0.9343 from 0.9254 at 0.9393 next. For now, risk will stay on the upside as long as 0.9254 support holds, in case of retreat.
In the bigger picture, outlook will stay bearish as long as 0.9444 resistance holds. Decisive break of 0.9209 low will resume long term down trend to 61.8% projection of 0.9772 to 0.9209 from 0.9444 at 0.9096 next.
