EUR/CHF’s rebound form 1.0737 resumed last week after brief consolidations. Further rally is expected this week as long as 1.0794 minor support holds. Correction from 1.0890 should have completed already. EUR/CHF should target a test on 1.0890/0915 resistance zone next. Decisive break there will resume whole rebound from 1.0503.
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.
