EUR/CHF’s rebound from 1.0737 resumed last week and hit as high as 1.0869. Initial bias stays on the upside this week for 1.0890/0915 resistance zone. Decisive break there will resume larger rebound from 1.0602. On the downside, below 1.0845 minor support will turn intraday bias neutral again first.
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.
