Daily Pivots: (S1) 0.9372; (P) 0.9402; (R1) 0.9417; More….
EURCHF reversed after hitting 0.9428 but recovered quickly ahead of 0.9291 support Intraday bias is turned neutral first. On the upside, break of 0.9428 will resume the rebound from 0.9218 through 0.9445 resistance. However, break of 0.9291 will bring retest of 0.9218 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.
