Daily Pivots: (S1) 1.0836; (P) 1.0848; (R1) 1.0870; More….
EUR/CHF is staying in consolidation from 1.0811 low and intraday bias remains neutral first. As noted before, rebound from 1.0694 has possibly completed at 1.0936 already. Break of 1.0811 will turn bias to the downside and resume the fall for retesting 1.0694 low. On the upside, however, above 1.0884 minor resistance will turn bias back to the upside for 1.0936 resistance again.
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.
