Daily Pivots: (S1) 0.9393; (P) 0.9410; (R1) 0.9436; More….
EUR/CHF’s break of 0.9408 resistance argues that fall from 0.9660 has already completed at 0.9218. Intraday bias is back on the upside for stronger rebound back to 0.9660. But strong resistance could be seen there to limit upside. After all, larger down trend is expected to continue through 0.9204 low as long as 0.9960 holds.
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.
