Daily Forex Analysis – EUR/CHF
The current intraday trend for EUR/CHF appears bearish, with a noticeable decline originating from 0.9695. A deeper exploration might push the pair to retest the 0.9517 mark. Should it break this point decisively, we could anticipate a resumption of the more pronounced downtrend starting from 1.0099. Conversely, surpassing the 0.9617 minor resistance mark may place the intraday sentiment into neutral territory.
Taking a step back to view the broader picture, the medium-term outlook for the currency pair remains on the bearish spectrum. This outlook will persist as long as EUR/CHF does not rise significantly above the current 55 W EMA level, now pegged at 0.9797. With the downtrend commencing from 1.2008 (a peak in 2018), there’s a possibility that it could extend and surpass the 0.9411 mark, a notable low from 2022. On the other hand, consistent trading levels beyond the 55 W EMA suggest that the 0.9474 could potentially represent a long-term floor. If this holds true, we may see the currency pair rally towards the 1.0099 resistance, hinting at a bullish trend reversal.
Analysis Summary
The EUR/CHF is currently exhibiting a bearish trend, with the potential to retest the 0.9517 low. The broader medium-term outlook remains bearish unless it surpasses the 55 W EMA level, suggesting 0.9474 as a potential long-term bottom.
Key Levels
- The current bearish intraday trend for EUR/CHF possibly extends to retest 0.9517.
- The broader medium-term outlook stays bearish unless EUR/CHF breaches 55 W EMA.
- A consistent climb above 55 W EMA hints at 0.9474 as a potential long-term foundation.
