Daily Pivots: (S1) 0.9739; (P) 0.9772; (R1) 0.9802; More….
EUR/CHF’s fall from 0.9928 resumed after brief recovery and intraday bias is back on the downside. Sustained trading below 55 D EMA (now at 0.9765) will pave the way to 38.2% retracement of 0.9252 to 0.9928 at 0.9670. Strong support is expected there to complete the pull back and bring rebound. On the upside, above 0.9800 minor resistance will turn intraday bias neutral again first.
In the bigger picture, as long as 0.9563 support holds, rise from 0.9252 medium term bottom is still in favor to continue. Next target is 38.2% retracement of 1.2004 (2018 high) to 0.9252 (2023 low) at 1.0303, even just as a correction to the down trend from 1.2004.
