Daily Pivots: (S1) 0.9235; (P) 0.9252; (R1) 0.9263; More….
Intraday bias in EUR/CHF remains neutral and more consolidations could still be seen above 0.9208 support. Upside should be limited below 0.9311 support turned resistance. On the downside, break of 0.9204/8 will confirm larger down trend resumption. Next target is 61.8% projection of 0.9660 to 0.9218 from 0.9452 at 0.9179. Firm break there will target 100% projection at 0.9010.
In the bigger picture, outlook remains bearish with EUR/CHF staying well inside long term falling channel after multiple rejection by 55 W EMA (now at 0.9385). Firm break of 0.9204 will resume the whole down trend from 1.2004 (2018 high). Next target is 61.8% projection of 1.1149 to 0.9407 from 0.9928 at 0.8851. Break of 0.9452 resistance is needed to be the first sign of medium term bottoming.
