Daily Pivots: (S1) 1.1306; (P) 1.1341; (R1) 1.1359; More…
Intraday bias in EUR/CHF remains on the downside for 1.1259 support first. Break will target 1.1181 low again. On the upside, above 1.1376 minor resistance will turn bias to the upside for 1.1444.
In the bigger picture, price actions from 1.2004 medium term top is seen as a correction only. Downside should be contained by 1.1154/98 support zone to complete it and bring rebound. Decisive break of 1.1501 (38.2% retracement of 1.2004 to 1.1173 at 1.1490) will confirm completion of the correction, on bullish convergence condition in daily MACD. Further rise should be seen to 61.8% retracement at 1.1687 and above next.
