Detailed FX Market Outlook and Analysis

EUR/CHF Daily Analysis 08-June-2022

EUR/CHF Daily Analysis

Intraday bias in EUR/CHF remains on the upside for 1.0413 resistance. A firm break there will resume the whole rebound from 0.9970, for 1.0610 structural resistance. On the downside, below 1.0327 minor support will turn intraday bias neutral again.

In the bigger picture, as long as 1.0505 support turned resistance (2020 low) holds, the long-term downtrend from 1.2004 (2018 high) is expected to continue. The next target is a 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650. However, a firm break of 1.0505 will suggest medium-term bottoming, and bring a stronger rebound towards 1.1149 structural resistance.

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