Daily Pivots: (S1) 1.1439; (P) 1.1475; (R1) 1.1495; More… .

EUR/CHF is still staying in consolidation from 1.1537 and intraday bias remains neutral for the moment. In case of another fall, downside should be contained by 38.2% retracement of 1.0830 to 1.1537 at 1.1267 to bring rebound. On the upside, break of 1.1537 resistance will confirm resumption of larger rally from 1.0629. In that case, EUR/CHF should target 1.2 key resistance level next.

In the bigger picture, long term rise from SNB spike low back in 2015 is still in progress. EUR/CHF should now be heading back to prior SNB imposed floor at 1.2000. For now, this will be the favored case as long as 1.1087 resistance turned support holds.

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