Daily Pivots: (S1) 0.9216; (P) 0.9268; (R1) 0.9316; More….
While downside momentum is diminishing slightly as seen in 4H MACD, further decline is still expected in EUR/CHF with 0.9408 resistance intact. Retest of 0.9204 low should be seen next Firm break there will resume larger down trend.
In the bigger picture, rejection by long-term falling channel resistance (now at 0.9600) retains medium term bearishness. That is, down trend from 1.2004 (2018 high) is still in progress. Firm break of 0.9204 (2024 low) will confirm resumption. Next target is 100% projection of 0.9928 to 0.9204 from 0.9660 at 0.8936.
