[m.youssif]

EUR/CHF's strong break of 1.2728 confirms that whole fall from 1.3234 has resumed. Intraday bias is back on the downside for deeper fall. As noted before, whole consolidation pattern from 1.2401 should have completed at 1.3234 already and current decline should now target a new low below 1.2401. On the upside, above 1.2762 minor resistance will turn bias neutral and bring recovery. But outlook will remain cautiously bearish as long as 1.2971 resistance holds.

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's strong break of 1.2728 confirms that whole fall from 1.3234 has resumed. Intraday bias is back on the downside for deeper fall. As noted before, whole consolidation pattern from 1.2401 should have completed at 1.3234 already and current decline should now target a new low below 1.2401. On the upside, above 1.2762 minor resistance will turn bias neutral and bring recovery. But outlook will remain cautiously bearish as long as 1.2971 resistance holds.

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.