Daily Pivots: (S1) 0.9382; (P) 0.9402; (R1) 0.9430; More….
Intraday bias in EUR/CHF remains neutral as range trading continues. Rebound from 0.9218 is either as a corrective move or the third leg of the pattern from 0.9204. On the upside, break of 0.9419 resistance will target 0.9445 and above. Nevertheless, break of 0.9296 support will bring retest of 0.9204/18 support zone.
In the bigger picture, prior rejection by long-term falling channel resistance (now at 0.9548) 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.
