EUR/CHF Daily Outlook

Daily Pivots: (S1) 0.9376; (P) 0.9398; (R1) 0.9436; More….

EUR/CHF recovered after dipping to 0.9359 and intraday bias is turned neutral first. Risk will now stay on the downside as long as 0.9516 resistance holds. Corrective rebound from 0.9204 might have completed at 0.9517 already. Firm break of 0.9336 support will solidify this bearish case and target a retest on 0.9204 low.

In the bigger picture, current development argues that rebound from 0.9204 has completed as a corrective move after failing to sustain above 38.2% retracement of 0.9928 to 0.9204 at 0.9481. Firm break of 0.9204/9 support zone will confirm larger down trend resumption.

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