Detailed FX Market Outlook and Analysis

EUR/CHF Daily Analysis 05-SEP-2022

EUR/CHF Daily Analysis

Intraday bias in EUR/CHF remains neutral at this point. Corrective rise from 0.9550 might extend higher. But the upside should be limited by a 38.2% retracement of 1.0512 to 0.9550 at 0.9917 to bring down trend resumption. On the downside, below 0.9696 minor support will turn bias back to the downside for retesting the 0.9550 low.

In the bigger picture, long-term downtrend from 1.2004 (2018 high) is still in progress. The next target is a 138.2% projection of 1.2004 to 1.0505 to 1.1149 at 0.9033. On the upside, the break of 0.9970 support turned resistance is needed to be the first sign of medium-term bottoming. Otherwise, the outlook will stay bearish in case of a strong rebound.

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