Daily Pivots: (S1) 0.9296; (P) 0.9319; (R1) 0.9335; More….
EUR/CHF dipped to 0.9297 but quickly recovered. Intraday bias stays neutral at this point. On the upside, break of 0.9428/45 resistance zone will resume the rebound from 0.9218. On the downside, break of 0.9297 will bring retest of 0.9218 low instead.
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 (now at 0.9433) 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).
