EUR/CHF Daily Outlook

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.2183; (P) 1.2196; (R1) 1.2205; More...

Intraday bias in EUR/CHF remains on the downside for 1.2183 support. Break will resume whole fall from 1.2393 and should target 1.2165 and then 1.2127 support. On the upside, break of 1.2260 is needed to indicate near term reversal. Otherwise, outlook stays mildly bearish even in case of recovery.

In the bigger picture, EUR/CHF faced strong resistance from 38.2% retracement of 1.6827 to 1.0061 at 1.2646 and turned sideway. Sustained break of this level is needed to confirm larger up trend resumption. Otherwise, outlook will stay neutral for more range trading. But after all, downside of another decline attempt should be contained by SNB's 1.2 floor.