Daily Forex Analysis – EUR/CHF
EUR/CHF is experiencing a withdrawal, indicating the formation of a temporary peak at 0.9687, leading to a transition to a neutral intraday bias. As per the Daily Forex Analysis, as long as the support level at 0.9606 remains unbroken, the anticipation of an additional rally persists. A breakthrough above 0.9687 will reinstate the ascent from 0.9517, directing to the 38.2% retracement of 1.0099 to 0.9517 at 0.9739. A continued break here has the potential to approach the 61.8% retracement at 0.9877.
Delving into a more comprehensive view via our Daily Analysis, the medium-term prospect continues to lean towards the bearish side as long as the pair stays considerably below the descending 55 W EMA, now at 0.9803. This implies that the downturn initiated from 1.2008 (the high of 2018) might resume and even surpass the 0.9411 (the low of 2022). Conversely, consistent trading above the 55 W EMA elevates the probability of the 0.9474 level already establishing itself as a long-term bottom. In such cases, a further climb could be witnessed, potentially touching the 1.0099 resistance, signaling a bullish trend reversal. This EUR/CHF Intraday Analysis is pivotal for those looking to navigate the ongoing market fluctuations effectively.
The Daily Forex Analysis indicates a temporary top in EUR/CHF at 0.9687 with a neutral intraday outlook, expecting further rally as long as 0.9606 support holds. The medium-term continues to be bearish unless significant bullish reversal indicators emerge, potentially directing towards 1.0099 resistance.
- EUR/CHF forms a temporary peak at 0.9687.
- Further rally anticipated with 0.9606 support intact, potentially targeting 0.9877.
- Medium-term remains bearish below the 55 W EMA at 0.9803.