Daily Pivots: (S1) 0.9340; (P) 0.9389; (R1) 0.9415; More….
Intraday bias in EUR/CHF remains neutral for the moment. Rebound from 0.9218 is either a corrective move, or the third leg of the pattern from 0.9204. Break of 0.9445 will resume the rebound towards 0.9660 resistance. However, on the downside, break of 0.9336 will bring retest of 0.9204/18 support zone.
In the bigger picture, prior rejection by long-term falling channel resistance (now at 0.9555) 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. This will remain the favored case as long as 0.9660 resistance holds.
