Thu, Jul 29, 2021 @ 13:11 GMT

EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1085; (P) 1.1099; (R1) 1.1125; More….

Intraday bias in EUR/CHF remains neutral first as consolidation form 1.1149 is extending. Downside should be contained by 1.0954 support to bring rise resumption. On the upside, break of 1.1149 will resume the whole rise from 1.0503 to 161.8% projection of 1.0503 to 1.0915 from 1.0737 at 1.1404.

In the bigger picture, current development suggests that whole down trend from 1.2004 (2018 high) has completed at 1.0503. Rise from there is starting a medium term up trend. Next target is 61.8% retracement of 1.2004 to 1.0503 at 1.1431 and above. This will now remain the favored case as long as 1.0915 resistance turned support holds.

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