EUR/CHF edged lower today but quickly recovered. Intraday bias remains neutral first. Further decline is expected as long as 0.9200 resistance holds. Firm break of 0.9128 will resume the decline from 0.9485 to 0.9094 support. Break there will target a retest on 0.8979 low. However, break of 0.9200 will turn bias back to the upside for stronger rebound.
In the bigger picture, current development suggests that rise from 0.8979 has completed as a three wave corrective move at 0.9485. Medium term bearishness is revived and larger down trend from 0.9928 (2024 high) is likely still in progress. Break of 0.8979 low is in favor at a later stage.
