[m.youssif]

Intraday bias in EUR/CHF remains on the upside with 1.3037 minor support intact and further rise should be seen to 1.3023 resistance first. Note that rise from 1.2432 is treated as the third leg of consolidation pattern from 1.2401 and would target 100% projection of 1.2401 to 1.3203 from 1.2432 at 1.3234 or even further to 55 weeks EMA (now at 1.3445). On the downside, below 1.3037 minor support will turn bias neutral and bring consolidations. But break of 1.2736 support is needed to confirm reversal. Otherwise, another rise would remain mildly in favor.

In the bigger picture, whole down trend from 1.6287 (2007 high) is still in progress and in any case, medium term outlook will remain bearish as long as 1.3833 resistance holds. The current down trend would likely continue through 1.2 psychological level towards 100% projection of 1.5138 to 1.2765 from 1.3833 at 1.1460, which is close to long term projection level at 1.1516. However, break of 1.3833 will confirm medium term bottoming and should bring strong rebound to 1.4315 resistance and above.

[m.youssif]

Intraday bias in EUR/CHF remains on the upside with 1.3037 minor support intact and further rise should be seen to 1.3023 resistance first. Note that rise from 1.2432 is treated as the third leg of consolidation pattern from 1.2401 and would target 100% projection of 1.2401 to 1.3203 from 1.2432 at 1.3234 or even further to 55 weeks EMA (now at 1.3445). On the downside, below 1.3037 minor support will turn bias neutral and bring consolidations. But break of 1.2736 support is needed to confirm reversal. Otherwise, another rise would remain mildly in favor.

In the bigger picture, whole down trend from 1.6287 (2007 high) is still in progress and in any case, medium term outlook will remain bearish as long as 1.3833 resistance holds. The current down trend would likely continue through 1.2 psychological level towards 100% projection of 1.5138 to 1.2765 from 1.3833 at 1.1460, which is close to long term projection level at 1.1516. However, break of 1.3833 will confirm medium term bottoming and should bring strong rebound to 1.4315 resistance and above.