Daily outlook EUR / CHF | Forex action

Daily pivots: (S1) 1.0543; (P) 1.0564; (R1) 1.0576; More

No change in the bearish outlook in EUR / CHF with a resistance of 1.0170 intact. A further decline is expected and the current downward trend should target a 100% projection of 1.1476 to 1.0811 against 1.1059 to 1.0394 thereafter. On the upside, a break in resistance at 1.0710, however, will indicate a short-term dip. The intraday bias would rise again for a stronger rebound.

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Overall, the downward trend from 1.2004 (2018 peak) is still underway. A decisive break in the 1.0629 key support should now pave the way for parity. Overall, the outlook will remain bearish as long as 1.0811 support becomes resistance, in case of a rebound.


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