Forex Trading

EUR/CHF Mid-Day Outlook – Action Forex

Daily Pivots: (S1) 0.9340; (P) 0.9361; (R1) 0.9375; More

Intraday bias in EUR/CHF stays mildly on the upside for the moment, as rebound from 0.9304 extends today. As noted before, pullback from 0.9471 could have completed at 0.9304 already. Rise from there would extend to 0.9471 resistance first. On the downside, break of 0.9337 will delay this bullish case, and bring another decline. But still, downside should be contained above 0.9252 low to bring rebound.

In the bigger picture, price actions from 0.9252 are tentatively seen as a correction to the five-wave down trend from 1.0095 (2023 high). Further rise would be seen to 38.2% retracement of 1.0095 to 0.9252 at 0.9574. But overall medium term outlook will remain bearish as long as 0.9683 resistance holds.

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