Daily Pivots: (S1) 0.9324; (P) 0.9342; (R1) 0.9372; More….
Intraday bias in EUR/CHF remains neutral with focus back on 0.9361 resistance. Firm break there will suggest that corrective pattern from 0.9445 has already completed at 0.9265. Further rise should then be seen to 0.9428 resistance for confirmation. However, below 0.9265 will bring another fall back to retest 0.9218 low.
In the bigger picture, the down trend from 0.9204 (2018 high) might still be in progress considering that EUR/CHF is staying well inside the long term falling channel. However, with bullish convergence condition in W MACD, downside position should be limited in case of another fall. Instead, firm break of 0.9660 resistance will be an important sign of medium term bullish trend reversal.
