Daily Pivots: (S1) 1.0807; (P) 1.0827; (R1) 1.0838; More….
Intraday bias in EUR/CHF remains neutral first and more consolidative trading could be seen. On the upside, firm break of 1.0871 will suggest that whole rebound from 1.0503 is resuming. Further rally should be seen through 1.0915 resistance to 61.8% projection of 1.0503 to 1.0915 from 1.0735 at 1.0990.
In the bigger picture, price actions from 1.0503 are still seen as a consolidation pattern. With 1.1059 cluster resistance (38.2% retracement of 1.2004 to 1.0503 at 1.1076) intact, the down trend from 1.2004 (2018 high) would still extend through 1.0503 low at a later stage. However, sustained break of 1.1059/76 will argue that rise from 1.0503 is starting a new up trend and would target 61.8% retracement at 1.1431 and above.
