EUR/CHF Daily Analysis
The intraday bias for EUR/CHF is inclined towards the downside, with a specific focus on retesting the 0.9411/20 support zone. Should a decisive breach occur in this area, it would signal a continuation of the larger downward trend. Conversely, if the pair touches the 0.9508 minor resistance level, it would postpone the bearish outlook and shift the intraday bias to a neutral stance, potentially leading to a consolidation phase.
The EUR/CHF’s inability to overcome the 0.9695 cluster resistance—which represents the 38.2% Fibonacci retracement of the movement from 1.0099 to 0.9420, specifically at 0.9679—reinforces the medium-term bearish sentiment. A decisive break below the 0.9051 support level, which marks the 2022 low, would further affirm the continuation of the long-term downward trend. The next significant target in this trajectory is the 61.8% Fibonacci projection of the 1.1153 to 0.9411 range from 1.0099, located at 0.9022. For now, the outlook remains neutral at best as long as the 0.9687 level is not breached.
Analysis Summary
This analysis highlights the bearish trend in EUR/CHF, focusing on key support and resistance levels. A decisive move below the 0.9411/20 zone could signal a continuation of the downward trend, while resistance at 0.9687 maintains a neutral outlook in the medium term.
Key Points
- Intraday bias for EUR/CHF remains downward, targeting the 0.9411/20 support zone.
- A breach of 0.9051 (2022 low) could extend the long-term downtrend.
- The medium-term outlook stays neutral as long as 0.9687 is not surpassed.
