EUR/CHF Daily Forecast

Daily Pivots: (S1) 1.5224; (P) 1.5247; (R1) 1.5267;

Intraday outlook in EUR/CHF remains neutral for the moment as choppy sideway trading continues. However, note that while another fall conned be ruled out, we'd still expect downside to be contained by 1.5191 cluster support and bring strong rebound. On the upside, above 1.5282 minor resistance will flip intraday bias back to the upside for retesting 1.5380 resistance. Break will target 1.5446 resistance next.

In the bigger picture, fall from 1.5880 should have completed with three waves down to 1.4577 already. the corrective structure argues that such fall is merely a correction to medium term rise from 1.4315 only. Having said that, current development favors the case that long term down trend from 1.6826 has also finished at 1.4315. Focus will now turn to 1.5880 resistance for confirmation. On the other hand, break of 1.5007 support will turn outlook mixed again.

Based on ActionForex.com Technical Outlook