Daily Pivots: (S1) 1.0770; (P) 1.0788; (R1) 1.0816; More….
EUR/CHF’s break of 1.0799 minor resistance argue that the pull back from 1.0871 has completed at 1.0735. Intraday bias is back on the upside. Further rise could be seen to 1.0871/7 resistance zone. On the downside, through, break of 1.0755 minor support will turn bias back to the downside for to extend the fall from 1.0871 through 1.0735 support.
In the bigger picture, price actions from 1.0503 are still seen as a consolidation pattern. With 1.1059 cluster resistance (38.2% retracement of 1.2004 to 1.0503 at 1.1076) intact, the down trend from 1.2004 (2018 high) would still extend through 1.0503 low at a later stage. However, sustained break of 1.1059/76 will argue that rise from 1.0503 is starting a new up trend and would target 61.8% retracement at 1.1431 and above.
