Daily Pivots: (S1) 1.1463; (P) 1.1481; (R1) 1.1516; More… .
EUR/CHF surges to as high as 1.1562 so far today. The break of 1.1537 resistance indicates resumption of medium term rise. Intraday bias is back to the upside for 61.8% projection of 1.0830 to 1.1537 from 1.1355 at 1.1792 next. However, considering weak upside momentum so far, break of 1.1438 will turn focus back to 1.1355 support instead.
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.
