EURCHF Resumption of its core downtrend!

EURCHF has seen a conclusive break of key support from its 1.1056/51 range lows to mark a resumption of its core downtrend, in line with our broader bearish stance following the completion of a large bearish continuation pattern in late June. We look for the trend to stay directly bearish with support seen next at 1.0989/84, but with the next meaningful support not seen until the "neckline to the base completed in July 2017 and the 61.8% retracement of the April 2015 and April 2018 rally at 1.0925/12.