Daily Pivots: (S1) 0.9401; (P) 0.9415; (R1) 0.9442; More….
Breach of 0.9419 resistance suggests that EUR/CHF’s rebound from 0.9218 might be resuming. Intraday bias is mildly on the upside for 0.9445 resistance first. Firm break there will target 100% projection of 0.9218 to 0.9445 from 0.9291 at 0.9518. On the downside, though, break of 0.9362 will turn bias back to the downside for 0.9291 support instead.
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.
