Daily Pivots: (S1) 0.9397; (P) 0.9419; (R1) 0.9436; More….
EUR/CHF retreated again ahead of 0.9445 resistance and intraday bias is turned neutral. On the upside, decisive break of 0.9445 will resume the whole rebound from 0.9218. Next target is 100% projection of 0.9218 to 0.9445 from 0.9265 at 0.9492. However, sustained trading below 55 4H EMA (now at 0.9384) will extend the corrective pattern from 0.9445 with another falling leg.
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.
 will extend the corrective pattern from 0.9445 with another falling leg.){kind=link}