Daily Pivots: (S1) 1.0794; (P) 1.0814; (R1) 1.0828; More….

Intraday bias in EUR/CHF is turned neutral with current retreat. Another rise is expected as long as 1.0788 minor support holds. Break of 1.0831 will target 1.0890/0915 resistance zone. Decisive break there will resume whole rebound from 1.0503. On the downside, though, break of 1.0788 minor support will turn bias to the downside for 1.0737 support instead.

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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