Daily Pivots: (S1) 1.0778; (P) 1.0795; (R1) 1.0830; More….

Intraday bias in EUR/CHF remains mildly on the upside at this point. Correction from 1.08990 could have completed at 1.0737. Rebound from there would target a test on 1.0890/0915 resistance zone. Decisive break there will resume whole rebound from 1.0503.

In the bigger picture, price actions from 1.0503 are still seen as a consolidation pattern. With 1.1059 cluster resistance (38.2% retracement of 1.2004 to 1.0503 at 1.1076) intact, the down trend from 1.2004 (2018 high) would still extend through 1.0503 low at a later stage. However, sustained break of 1.1059/76 will argue that rise from 1.0503 is starting a new up trend and would target 61.8% retracement at 1.1431 and above.

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