Daily Pivots: (S1) 1.0802; (P) 1.0844; (R1) 1.0872; More….
EUR/CHF’s break of 1.0837 support suggests that rebound from 1.0694 has completed at 1.0936. Intraday bias is turned back to the downside for retesting 1.0694 low. Break there will resume whole decline from 1.1149. On the upside, break of 1.0936 will resume the rebound to 1.0985 resistance instead.
In the bigger picture, the stronger than expected rebound from 1.0694 and break of 55 week EMA (now at 1.0861) mixes up the medium term outlook. On the upside, break of 1.1149 will resume the whole rise from 1.0505 (2020 low). On the downside, break of 1.0694 will revive some medium term bearishness for 1.0505 and below.
