Daily Forex Analysis – EUR/CHF
In today’s Daily Forex Analysis, the EUR/CHF intraday outlook indicates a neutral bias as the pair hovers marginally above 0.9515. As long as the 0.9603 resistance stays unbroken, the dominant downtrend is likely to persist. A decisive move below 0.9515 could signal further declines towards 0.9409. On the flip side, should the currency pair break past 0.9603, we could anticipate a robust rebound targeting 0.9648 and beyond.
Zooming out in our Daily Analysis, the medium-term sentiment remains bearish, largely influenced by the downturn originating from the 2018 high of 1.2006. Currently, the 55 W EMA stands at 0.9841, acting as a firm ceiling. If 0.9672, which has flipped from support to resistance, holds firm in the face of a strong rebound, our focus will remain on the downside. The next target for bears would be 0.9020, achieved by a 61.8% projection of the decline from 1.1151 to 0.9409.
Analysis Summary
Today’s EUR/CHF Intraday Analysis reveals a neutral bias in the short term but maintains a bearish outlook in the medium term. A firm break below 0.9515 could fast-track declines while surpassing 0.9603 could instigate a bullish turnaround. The 55 W EMA at 0.9841 remains a pivotal point for determining medium-term trends.
Key Points:
- EUR/CHF Intraday Analysis shows a neutral bias above 0.9515
- A dominant downtrend is likely to persist if the 0.9603 resistance holds
- The medium-term outlook remains bearish, anchored by 55 W EMA at 0.9841
