Immediate focus is now on 0.9167 resistance as EUR/CHF’s rebound from 0.9094 exrtends higher today. Firm break there will argue that fall from 0.9264 has completed as a corrective move. More important, that would argue that rise from 0.8979 is ready to resume. Intraday bias will be back on the upside for 0.9264 first. Nevertheless, rejection by 0.9167, followed by break of 0.9094, will retain the original bearish view and bring retest of 0.8979 low.
In the bigger picture, the rejection by 55 W EMA (now at 0.9252) suggests that the down trend from 0.9928 (2024 high) is still in progress. Firm break of 0.8979 will confirm down trend resumption. Outlook will stay bearish as long as 0.9394 resistance holds, in case of another rebound.
