EUR/CHF Analysis
In the current intraday analysis of EUR/CHF, a persistent downside bias is maintained, notwithstanding a marginal alleviation in downward momentum. Anticipation of a retest within the 0.9407/16 support zone is evident, and a decisive breach at this level would signify a resurgence of the broader downtrend. It is noteworthy that surpassing the minor resistance at 0.9467 could briefly interrupt the bearish trajectory, leading to a neutral intraday bias, and prompting a phase of consolidation.
the medium-term outlook sustains a bearish sentiment, contingent on the resilience of the 0.9683 resistance. A resolute breakdown below the 2022 low at 0.9407 is poised to reignite the enduring downtrend. The subsequent target lies at the 61.8% projection of the range from 1.1149 to 0.9407, originating from 1.0095, pinpointing 0.9018.
Analysis Summary
In summary, the EUR/CHF intraday scenario underscores a prevailing downside stance, emphasizing the pivotal support level at 0.9407. The medium-term trajectory remains bearish unless breached beyond the 0.9683 resistance, with a potential downside target of 0.9018 looming on the horizon.
Key Takeaways
- Intraday bias maintains a downward trajectory with a focus on the 0.9407/16 support zone.
- The medium-term outlook remains bearish, contingent on the resilience of the 0.9683 resistance.
- A decisive breach of 0.9407 could reignite the long-term downtrend, targeting 0.9018.
