EUR/CHF Daily Outlook: Intraday Bias Remains Neutral Amid Potential Breakouts

Monday, 22 July 2024, 07:20

The intraday bias for the EUR/CHF currency pair currently remains neutral. A strong bounce from the current level could sustain near-term bullishness. Conversely, a break at 0.9972 may lead to an upward rally from the 0.9772 baseline. However, a firm breach at 0.9659 could signal a further decline towards 0.9589, extending the downtrend from 0.9772.
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EUR/CHF Daily Outlook: Intraday Bias Remains Neutral Amid Potential Breakouts

EUR/CHF Daily Outlook

The intraday bias in EUR/CHF stays neutral for the moment. A strong bounce from the current level will maintain near-term bullishness.

Key Levels to Watch

  • Break of 0.9972 will resume the rally from 0.9772.
  • However, a firm break of 38.2% retracement at 0.9659 will extend the fall from 0.9772.
  • This could lead to a further decline towards 61.8% retracement at 0.9589 and possibly below.

In conclusion, traders should monitor these critical levels closely to determine the currency pair's future trajectory.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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