Daily Pivots: (S1) 1.1291; (P) 1.1349; (R1) 1.1436; More…
With 1.1304 minor support intact, intraday bias in EUR/CHF remains on the upside for the moment. Current rally is expected to l target 200% projection of 1.0652 to 1.0986 from 1.0830 at 1.1498 next. On the downside, below 1.1304 minor support will turn intraday bias neutral and bring consolidations, before staging another rise.
In the bigger picture, sustained break of 1.1198 key resistance confirms resumption of the long term rise from SNB spike low back in 2015. In this case, EUR/CHF would eventually head 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.
