Daily Pivots: (S1) 1.0914; (P) 1.0931; (R1) 1.0951; More…
Intraday bias in EUR/CHF remain son the upside for 1.0986/0999 resistance zone first. Break there will extend the larger rise from 1.0629 and target next key resistance level at 1.1198 high. On the downside, below 1.0908 minor support will turn intraday bias neutral an bring retreat. As noted before, corrective pull back from 1.0986 should be completed at 1.0830. Downside of retreat should be contained well above 1.0830 and bring another rally.
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.
