Daily Pivots: (S1) 0.9297; (P) 0.9320; (R1) 0.9332; More….
EUR/CHF’s fall from 0.9394 resumed and the break of 0.9311 support argues that rebound from 0.9178 has completed. Intraday bias is back on the downside. Sustained trading below 55 D EMA (now at 0.9317) will pave the way back to retest 0.9178 low. Nevertheless, break of 0.9366 resistance will resume the rise from 0.9178 through 0.9394.
In the bigger picture, EUR/CHF has breached long term falling channel resistance as the rebound from 0.9278 extends. Considering bullish convergence condition in W MACD, sustained trading above 55 W EMA (now at 0.9316) will indicate medium term bottoming at 0.9178, and suggests that it’s already in larger scale rebound. Further break of 0.9452 resistance will bring stronger medium term rally towards 0.9928 resistance next. Nevertheless, rejection by 55 W EMA will retain bearishness for another fall through 0.9278 at a later stage.
 will pave the way back to retest 0.9178 low. Nevertheless, break of 0.9366 resistance will resume the rise from 0.9178 through 0.9394.){kind=link}