Daily Pivots: (S1) 0.9518; (P) 0.9548; (R1) 0.9567; More….
No change in EUR/CHF’s outlook as consolidations continue below 0.9660. Intraday bias remains neutral for the moment. Further rally is expected as long as 0.9489 support holds. Break of 0.9660 will resume whole rise from 0.9204.
In the bigger picture, prior strong break of 55 W EMA (now at 0.9487) is a medium term bullish sign. Sustained break trading above long-term falling channel resistance (at around 0.9618) would suggest that the downtrend from 1.2004 (2018 high) has bottomed at 0.9204. Stronger rally should then be seen to 0.9928 key resistance at least.
