EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1510; (P) 1.1533; (R1) 1.1556; More… .

EUR/CHF’s rally is still in progress and reaches as high as 1.1585 so far. Intraday bias remains on the upside for 61.8% projection of 1.0830 to 1.1537 from 1.1355 at 1.1792 next. On the downside, below 1.1511 minor support will turn intraday bias neutral and bring consolidations first.

In the bigger picture, long term rise from SNB spike low back in 2015 is still in progress. EUR/CHF should now be heading back to prior SNB imposed floor at 1.2000. For now, this will be the favored case as long as 1.1087 resistance turned support holds.

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