Daily Pivots: (S1) 0.9295; (P) 0.9311; (R1) 0.9321; More…
Intraday bias in EUR/CHF remains on the downside for the moment. Fall from 0.9425 is in progress for 0.9265 support. Firm break there will bring deeper decline to 0.9218 low. For now, risk will stay on the downside as long as 0.9371 resistance holds, in case of recovery.
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.
