EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.0835; (P) 1.0851; (R1) 1.0871; More….

Intraday bias in EUR/CHF remains neutral for consolidation above 1.0823 temporary low first. But outlook stays bearish as long as 1.0985 resistance holds. Break of 1.0823 will resume the whole fall from 1.1149, to 1.0737 cluster support next.

In the bigger picture, current development argues that rebound from 1.0505 (2020 low) might be completed with three waves up to 1.1149 already. Sustained trading below 55 week EMA (now at 1.0885) will affirm this bearish case. Further break of 1.0737 cluster support (61.8% retracement of 1.0505 to 1.1149 at 1.0751) will bring retest of 1.0505 low.

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