Daily Pivots: (S1) 0.9555; (P) 0.9602; (R1) 0.9686; More….
EUR/CHF’s rally resumed by breaching 0.9634 and intraday bias is back on the upside. Sustained break of 100% projection of 0.9204 to 0.9516 from 0.9331 at 0.9643 will pave the way to 161.8% projection at 0.9836 next. For now, further rise is expected as long as 0.9489 support holds, in case of retreat.
In the bigger picture, the strong break of 55 W EMA (now at 0.9482) is a medium term bullish sign. Sustained break trading above long-term falling channel resistance (at around 0.9620) would suggest that the downtrend from 1.2004 (2018 high) has bottomed at 0.9204. Stronger rally should then be see to 0.9928 key resistance at least.
