Daily Pivots: (S1) 1.0877; (P) 1.0890; (R1) 1.0916; More…
Intraday bias in EUR/CHF stays neutral first. We’re favoring the case that pull back from 1.0986 has completed at 1.0837 already. Above 1.0907 will turn bias to the upside for retesting 1.0986/0999 resistance zone. Below 1.0836 will extend the correction. Still, we’d expect strong support from 1.0791/0872 support zone to bring rebound.
In the bigger picture, the price actions from 1.1198 are seen as a corrective move. Such correction could have completed after defending 38.2% retracement of 0.9771 to 1.1198 at 1.0653. Decisive break of 1.0999 resistance will target a test on 1.1198 high. For now, this will be the preferred case as long as 1.0791 support holds.
