Daily Pivots: (S1) 1.1306; (P) 1.1341; (R1) 1.1359; More…

Intraday bias in EUR/CHF remains on the downside for 1.1259 support first. Break will target 1.1181 low again. On the upside, above 1.1376 minor resistance will turn bias to the upside for 1.1444.

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In the bigger picture, price actions from 1.2004 medium term top is seen as a correction only. Downside should be contained by 1.1154/98 support zone to complete it and bring rebound. Decisive break of 1.1501 (38.2% retracement of 1.2004 to 1.1173 at 1.1490) will confirm completion of the correction, on bullish convergence condition in daily MACD. Further rise should be seen to 61.8% retracement at 1.1687 and above next.

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