Daily Pivots: (S1) 0.9375; (P) 0.9390; (R1) 0.9417; More….
Intraday bias in EUR/CHF remains neutral for the moment. On the upside, break of 0.9419 resistance will argue that the rise from 0.9218, either as a correction to fall from 0.9660, or the third leg of the pattern from 0.9204, is ready to resume through 0.9445. Nevertheless, on the downside, firm break of 0.9291 will bring retest of 0.9218 low.
In the bigger picture, prior rejection by long-term falling channel resistance (now at 0.9527) 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.
