EUR/CHF Analysis
EUR/CHF has rebounded after a transient breach of the 0.9407 low, prompting a shift in the intraday bias to a neutral stance. While anticipations include some consolidative movements, a sustained decline is projected, contingent upon the resilience of the 0.9543 resistance level. A definitive breach of the 0.9407 threshold would reignite the broader downtrend.
Taking a broader perspective, the medium-term outlook for EUR/CHF remains bearish, provided the 0.9683 resistance level remains intact. A decisive violation of the 0.9407 mark, representing the low of 2022, is poised to restart the long-term downtrend. The subsequent target lies at the 61.8% extension of the downward move from 1.1149 to 0.9407, measured from 1.0095, presenting at 0.9018.
Analysis Summary
EUR/CHF exhibits a rebound post breaching the 0.9407 low, signaling a neutral bias. Anticipated consolidations notwithstanding, a sustained downturn is expected with 0.9543 resistance as a key determinant. The broader outlook remains bearish, contingent on 0.9683 resistance, with 0.9407 breach resuming the long-term downtrend toward 0.9018.
Key Points
- Rebound post 0.9407 breach; intraday bias neutral.
- Anticipated consolidations; further fall with 0.9543 resistance intact.
- A broader bearish outlook persists; a breach of 0.9407 resumes a long-term downtrend.
