Daily Pivots: (S1) 0.9352; (P) 0.9380; (R1) 0.9430; More….
Intraday bias in EUR/CHF remains on the upside with focus on 0.9428 resistance Decisive break there should confirm that corrective pattern from 0.9445 has completed. Rise from 0.9128 should then be ready to resume to 100% projection of 0.9218 to 0.9445 from 0.9265 at 0.9492. On the downside, below 0.9388 minor support will delay the bullish case turn intraday bias neutral again first.
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.
