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The EUR/CHF pair is under bearish pressure according to ActionForex's technical analysis. Key daily pivot levels are set at 0.8993 (S1), 0.9034 (P), and 0.9059 (R1). The intraday bias remains downward, with a critical breakdown below the 61.8% Fibonacci projection at 0.8991 potentially opening the path to 0.8894. A rebound above 0.9071 resistance could temporarily neutralize the bearish trend. For traders, the focus is on Fibonacci retracement levels and pivot points to gauge short-term momentum. A sustained break below 0.8991 would signal stronger bearish momentum, while a move above 0.9071 might trigger a reversal. The pair's volatility near these levels presents both risk and opportunity for position traders. MENA forex traders should monitor the 0.8991-0.9071 range closely, as a breakout in either direction could influence broader EUR cross correlations. The Swiss National Bank's policy stance and EUR zone inflation data may also impact the pair's trajectory in the coming weeks.
