Daily Pivots: (S1) 0.9206; (P) 0.9219; (R1) 0.9244; More….
EUR/CHF’s fall resumed after brief consolidations. Break of 0.9178 suggests larger down trend resumption too. Intraday bias is back on the downside for 161.8% projection of 0.9394 to 0.9268 from 0.9347 at 0.9143. Firm break there will target 261.8% projection at 0.9017. On the upside, above 0.9235 minor resistance will turn intraday bias neutral again and bring consolidations first, before staging another fall.
In the bigger picture, another rejection by 55 W EMA (now at 0.9350) keeps outlook bearish. Downtrend from 1.2004 (2018 high) is still in progress. Firm break of 0.9178 will target 61.8% projection of 1.1149 to 0.9407 from 0.9928 0.8851. Outlook will stay bearish as long as 0.9394 resistance holds, in case of recovery.
