EUR/CHF’s down trend resumed by late break of 0.9092 support last week. Initial bias is back on the downside. Next target is 61.8% projection of 0.9347 to 0.9092 from 0.9149 at 0.8991. For now, near term outlook will stay bearish as long as 0.9149 resistance holds, in case of recovery.
In the bigger picture, down trend from 0.9928 (2024 high) is still in progress. Next target is 61.8% projection of 1.1149 to 0.9407 from 0.9928 at 0.8851. Outlook will stay bearish as long as 0.9394 resistance holds, in case of rebound.
In the long term picture, EUR/CHF is also holding well inside long term falling trend channel. Down trend from 1.2004 (2018 high) is still in progress. Outlook will continue to stay bearish as long as falling 55 M EMA (now at 0.9739) holds.
