EUR/CHF Daily Outlook

Intraday bias in EUR/CHF remains neutral for the moment. Considering bearish divergence condition in 4H MACD, a short term top could be formed. Break of 0.9420 support will confirm and bring deeper fall to near term channel floor (now at 0.9387) first. Nevertheless, above 0.9478 will extend the larger rise from 0.8979 should target 161.8% projection of 0.8979 to 0.9264 from 0.9094 at 0.9555.

In the bigger picture, rise from 0.8979 medium term bottom is at least reversing the fall from 0.9928 (2024 high), with prospect of developing into a medium term up trend. Further rally should be seen to 0.9660 resistance next. This will now remain the favored case as long as 0.9264 resistance turned support holds.

ActionForex
ActionForex
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