Daily Pivots: (S1) 1.0806; (P) 1.0832; (R1) 1.0874; More….
EUR/CHF rises to as high as 1.0859 so far and intraday bias remains on the upside for 1.0871 resistance. Decisive break there will argue that consolidation pattern from 1.0915 has completed, and rebound from 1.0503 is resuming. Further rally would be seen to 61.8% projection of 1.0503 to 1.0915 from 1.0735 at 1.0990. On the downside, though, break of 1.0807 minor support will turn intraday bias neutral first.
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.
