The brief initial recovery in EUR/CHF didn’t last long as down trend resumed towards the end of the week by breaking through 0.9026 temporary low. Initial bias is back on the downside this week for 61.8% projection of 0.9347 to 0.9092 from 0.9149 at 0.8991. Firm break there will pave the way to 100% projection at 0.8894. ON the upside, above 0.9071 resistance will turn intraday bias neutral again first. But outlook will remain bearish as long as 0.9149 resistance holds.
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.
