Daily Pivots: (S1) 0.9508; (P) 0.9531; (R1) 0.9549; More….
Intraday bias in EUR/CHF remains neutral for the moment. While pull back from 0.9660 might extend lower, further rally is expected as long as 0.9489 support holds. On the upside, above 0.9581 minor resistance will bring retest of 0.9660 first. Further break there 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.
