EUR/CHF Daily Forex Analysis
The Intraday Analysis of the EUR/CHF pair suggests a neutral bias currently, with a bearish outlook persisting as long as the 0.9725 resistance, formerly a support level, holds. If there’s a downward break of 0.9610, it will signal the resumption of a larger decline from 1.0099, aiming for the 100% projection of 0.9999 to 0.9674 from 0.9844 at 0.9519.
Looking at the larger framework in our Daily Forex Analysis, we note a bearish trend for the medium term as the pair remains under the descending 55 W EMA (currently at 0.9917). The downtrend from 1.2008 (high of 2018) is predicted to extend towards 0.9411 in the later stages. However, if a decisive break occurs above the 38.2% retracement of 1.1153 to 0.9411, it may usher in a bullish trend reversal.
Summary
The EUR/CHF Intraday Analysis reveals a neutral bias with a bearish outlook due to the intact 0.9725 resistance. A break below 0.9610 would resume the major decline towards 0.9519.
Key Points
- The EUR/CHF pair remains neutral in the intraday analysis with a bearish outlook sustained by the 0.9725 resistance level.
- A fall below 0.9610 would indicate a continuation of the significant decline aiming for 0.9519.
- The medium-term bearish outlook holds, with a potential reversal if a decisive break occurs above the 38.2% retracement level.
