Daily Pivots: (S1) 1.0929; (P) 1.0964; (R1) 1.1034; More….
EUR/CHF rises to as high as 1.1051 so far today, and broke 61.8% projection of 1.0503 to 1.0915 from 1.0737 at 1.0992 already. There is no sign of topping so far. Intraday bias stays on the upside for 1.1059/76 long term cluster resistance next. Decisive break there will carry larger bullish implications. On the downside, below 1.0947 minor support will turn intraday bias neutral and bring some consolidations 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.
