Daily Pivots: (S1) 0.9328; (P) 0.9346; (R1) 0.9370; More….
EUR/CHF is still bounded in sideway trading and intraday bias remains neutral. On the downside, decisive break of 0.9306 support will turn bias to the downside for retesting 0.9218 low. On the upside, break of 0.9428/45 resistance zone will resume the rebound from 0.9218.
In the bigger picture, while downside momentum has been diminishing as seen in W MACD, there is no sign of bottoming yet. EUR/CHF is still staying below 55 W EMA and well inside long term falling channel. Outlook will stay bearish as long as 0.9660 resistance holds. Break of 0.9204 (2024 low) will confirm resumption of down trend from 1.2004 (2018 high).
