Daily Pivots: (S1) 0.9159; (P) 0.9188; (R1) 0.9223; More….
Intraday bias in EUR/CHF remains neutral first and more consolidations could be seen above 0.9141. Upside of recovery should be limited by 0.9235 to bring another fall. Decisive break of 0.9141 will extend larger down trend to 261.8% projection of 0.9394 to 0.9268 from 0.9347 at 0.9143. However, firm break of 0..9235 resistance will suggest short term bottoming and bring stronger rebound to 55 D EMA (now at 0.9275).
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.
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