[m.youssif]

EUR/CHF dips further to 1.2901 so far and intraday bias remains on the downside for 1.2736. Break there will indicate that consolidations from 1.2401 is likely completed and larger downtrend is possibly resuming. On the upside above 1.3053 minor support will delay the immediate bearish view and bring some consolidations first.

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]

EUR/CHF dips further to 1.2901 so far and intraday bias remains on the downside for 1.2736. Break there will indicate that consolidations from 1.2401 is likely completed and larger downtrend is possibly resuming. On the upside above 1.3053 minor support will delay the immediate bearish view and bring some consolidations first.

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.