EUR/CHF rebounds strongly in first part of US session, following strong risk-on markets. At this point, we’re not totally certain on the drive behind the sharp move, other than reverse safe-haven flows. And immediate focus in on 1.0611 resistance. Break will complete a double bottom pattern (1.0503, 1.5040).
Considering the strength of current rise, it seems 1.0710 cluster resistance (38.2% retracement of 1.1059 to 1.0503 at 1.0715) is the real trend defining hurdle, rather than 1.0653 resistance.
