Daily Pivots: (S1) 0.9399; (P) 0.9411; (R1) 0.9419; More….
Intraday bias in EUR/CHF stays neutral for the moment. Further rise is expected as long as 0.9400 support holds. Above 0.9452 will extend the rise from 0.9218 to 100% projection of 0.9218 to 0.9445 from 0.9265 at 0.9492. However, firm break of 0.9400 will turn bias back to the downside for 55 D EMA (now at 0.9365).
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 potential 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.
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