Daily Pivots: (S1) 0.9282; (P) 0.9392; (R1) 0.9492; More….
EUR/CHF’s fall from 0.9660 continues today and intraday bias stays on the downside. Break of 0.9331 support suggests that rise form 0.9204 has already completed as a three-wave correction. Deeper decline should be seen to retest 0.9204 low next. On the upside, above 0.9408 minor resistance will turn bias neutral and bring consolidations first, before staging another decline.
In the bigger picture, rejection by long-term falling channel resistance (now at 0.9600) will retain medium term bearishness. That is, down trend from 1.2004 (2018 high) is still in progress. Downside breakout through 0.9204 low would then be in favor at a later stage.
