The EUR/CHF pair’s daily forecast indicates that the intraday bias remains neutral as it is currently within a converging triangle. If the pair breaks below 0.9331, it could target the 0.9305 support level initially, with a further decline possibly retesting the 0.9209 low.
On the other hand, a break above 0.9444 could lead to a stronger rally towards the 0.9506 resistance level. Looking at the bigger picture, the overall trend shows a decline from 0.9928, suggesting a long-term downtrend. The repeated rejection near the 55-day EMA, currently at 0.9419, indicates a bearish outlook with a potential break below the 0.9209 low in the future.
However, if the pair manages to sustain trading above the 55-day EMA, it could signal a medium-term bottoming at 0.9209 and pave the way for a stronger rebound towards the key resistance level at 0.9928. Traders and investors should monitor these key levels and technical indicators to make informed decisions in the EUR/CHF market.
