Daily Pivots: (S1) 1.0912; (P) 1.0925; (R1) 1.0945; More….
Intraday bias in EUR/CHF stays on the upside as rise from 1.0694 is in progress. 1.0985 resistance is the next target. Sustained break there will target a test on 1.1149 high. On the downside, however, break of 1.0837 support will argue that the rebound has completed, and turn bias back to the downside for 1.0694 low.
In the bigger picture, the stronger than expected rebound from 1.0694 and break of 55 week EMA (now at 1.0861) mixes up the medium term outlook. On the upside, break of 1.1149 will resume the whole rise from 1.0505 (2020 low). On the downside, break of 1.0694 will revive some medium term bearishness for 1.0505 and below.
