Daily Pivots: (S1) 1.0783; (P) 1.0808; (R1) 1.0833; More….

Intraday bias in EUR/CHF remains on the upside, as rebound from 1.0694 is on track to 1.0839 resistance. Sustained break there will turn near term outlook bullish for 1.0863/0985 resistance zone. On the downside, however, break of 1.0780 minor support will turn bias back to the downside for retesting 1.0694 low instead.

In the bigger picture, rebound from 1.0505 (2020 low) should have completed at 1.1149 already. The three-wave corrective structure argues that the downtrend from 1.2004 (2018 high) is not over yet. Medium term outlook will now stay bearish as long as 55 week EMA (now at 1.0859) holds. Break of 1.0505 low would be seen at a later stage.



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