EUR/CHF Daily Forex Analysis
In our Daily Forex Analysis for EUR/CHF, the intraday outlook remains neutral while the broader sentiment is bearish. If the pair drops below 0.9605, we could witness a continuation of the larger downtrend from 1.0099, with a target at the 100% projection of 0.9999 to 0.9674 from 0.9844, resting at 0.9519. However, a break above 0.9688 may signify a short-term bottom and lead to a more pronounced rebound.
In the wider view of our Daily Analysis, the medium-term outlook for the pair remains bearish, as the pair is considerably below the descending 55 W EMA (now at 0.9893). The downtrend from 1.2008 (2018 high) is expected to continue, potentially reaching 0.9411 at a later date. However, a firm breach of the 38.2% retracement of 1.1153 to 0.9411 could signify a shift toward a bullish trend reversal.
EUR/CHF Daily Analysis Summary
The intraday outlook for EUR/CHF is neutral with a bearish overall sentiment. A drop below 0.9605 could extend the downtrend from 1.0099, targeting 0.9519. However, a break above 0.9688 might indicate short-term bottoming and lead to a stronger rebound.
Key points
- EUR/CHF Intraday Analysis: Bearish sentiment prevails, a drop below 0.9605 could extend the downtrend towards 0.9519.
- A break above 0.9688 may indicate short-term bottoming, initiating a stronger rebound.
- A firm breach of the 38.2% retracement of 1.1153 to 0.9411 could signal a possible bullish trend reversal.
