Daily Pivots: (S1) 1.0771; (P) 1.0780; (R1) 1.0790; More….
EUR/CHF is staying in consolidation from 1.0737 and intraday bias remains neutral for the moment. On the downside, break of 1.0890 will target 1.0658 support, to extend the consolidation pattern from 1.0915. On the upside, break of 1.0790 minor resistance will argue that the fall from 1.0890 has completed. Intraday bias will be turned back to the upside for 1.0866 resistance.
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.
