Daily Pivots: (S1) 0.9374; (P) 0.9392; (R1) 0.9424; More….
EUR/CHF’s rebound from 0.9284 extended higher and focus is no won 0.9417 resistance. Firm break there will resume the rally from 0.9204 to 0.9481 fibonacci resistance next. On the downside, below 0.9359 minor support will turn intraday bias back to the downside for 0.9284 support instead.
In the bigger picture, a medium term bottom is probably in place at 0.9204. More consolidations would be seen above there with risk of stronger rebound to 38.2% retracement of 0.9928 to 0.9204 at 0.9481. But outlook will remain bearish as long as 0.9481 holds and another fall through 0.9204 to resume larger down trend is in favor.
