EUR/CHF Daily Forex Analysis
As part of our daily forex analysis, we examine the EUR/CHF pair where the intraday outlook remains unchanged and continues to display a neutral bias. A rise beyond 0.9844 would reignite the rebound that began at 0.9674. This break to the upside could potentially indicate that the entire corrective decline that started at 1.0099 might have found its completion at 0.9674. If this is the case, we can expect to witness a further rally toward the next resistance level at 0.9882.
However, in this daily analysis, it’s crucial to consider that continuous trading beneath 0.9674 might reignite the total drop from 1.0099.
Taking a broader perspective, the medium-term outlook for EUR/CHF remains somewhat bearish, given that the pair is yet to break above the declining 55 Week Exponential Moving Average (WEMA), which is currently positioned at 0.9917. The downward trend that originated from 1.2008 (the high of 2018) could potentially extend past 0.9411 at a later stage. However, a decisive breakthrough of the 38.2% retracement of 1.1153 to 0.9411 could increase the possibility of a bullish trend reversal.
EUR/CHF Daily Analysis Summar
To sum up, the daily forex analysis of EUR/CHF shows a neutral intraday outlook. An upside break of 0.9844 could lead to further rallies, while sustained trading below 0.9674 may resume the decline from 1.0099. The medium-term outlook is bearish but could change with a decisive break of the 38.2% retracement.
Key takeaways
- The EUR/CHF intraday analysis shows a neutral bias with an upside break at 0.9844 possibly resuming the rebound.
- Sustained trading below 0.9674 may lead to a continuation of the fall from 1.0099.
- The medium-term outlook is bearish, yet a decisive break of the 38.2% retracement could trigger a bullish reversal.
