EUR/CHF Daily Analysis
The EUR/CHF currency pair continues to navigate within a range, remaining below the 0.9682 threshold. The intraday outlook is currently neutral, with expectations leaning towards an upward movement as long as the 0.9599 support level holds firm. A decisive break in the 0.9682/0.9695 resistance zone would signify a more significant bullish trend. Conversely, a drop below the 0.9599 support suggests a short-term peak, potentially shifting the bias towards a more substantial pullback.
Expanding to a larger timeframe, the decline from the 2023 high of 1.0099 might have found its floor at 0.9420, slightly above the 2022 low at 0.9411. A consistent breach of the 0.9695 resistance, which aligns with the 38.2% Fibonacci retracement level (1.0099 to 0.9420 at 0.9679), would open the path towards the 61.8% retracement at 0.9840 and potentially higher. Should the pair fail to surpass the 0.9695 mark, the medium-term bearish outlook would prevail, potentially leading to another test of the 0.9411 support.
Analysis Summary
EUR/CHF remains range-bound below 0.9682 with a neutral intraday bias. A break above 0.9695 could signal a bullish trend while falling below 0.9599 indicates a potential pullback. The long-term perspective hinges on overcoming 0.9695; failure to do so maintains bearishness towards retesting the 0.9411 support.
Key Points
- Neutral intraday bias with a range below 0.9682.
- A break above 0.9695 suggests bullish potential.
- Long-term bearishness remains without overcoming 0.9695 resistance.
