Daily Pivots: (S1) 0.9207; (P) 0.9233; (R1) 0.9252; More….
Intraday bias in EUR/CHF remains on the downside for 0.9204/8 support zone. Break there will confirm larger down trend resumption. Next near term target is 61.8% projection of 0.9452 to 0.9208 from 0.9325 at 0.9175. Decisive break there could prompt downside acceleration to 100% projection at 0.9082. On the upside, above 0.9256 minor resistance will delay the bearish case and turn bias neutral first.
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 0.9383). 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. However, break of 0.9452 resistance will now be the first sign of medium term bottoming.
