There is no change in the outlook for EUR/CHF as the rise from 0.8979 continues. Intraday bias remains on the upside for the 100% forecast at 0.8979 to 0.9264 from 0.9094 at 0.9379. On the downside, minor support at 0.9308 will shift the intraday bias to neutral and bring consolidation. But the downside must be contained at the 0.9265 resistance level turned into support for another rise.
In the bigger picture, breaking the resistance of the medium-term downtrend line indicates that the 0.8979 level is indeed a medium-term bottom. Given the case of bullish convergence in the W MACD, a rise from there should at least reflect the decline from 0.9928, with the potential to develop into an uptrend in the medium term. A strong break of the resistance at 0.9394 will add more credibility to this case. For now, the risk will remain on the upside as long as the support at 0.9094 holds, in case of a pullback.
