Daily Pivots: (S1) 1.0814; (P) 1.0832; (R1) 1.0858; More….
A temporary low is formed at 1.0802 and intraday bias in EUR/CHF is turned neutral first. Outlook will stay bearish as long as 1.0985 resistance holds. Break of 1.0802 will resume the decline from 1.1149, for 1.0737 cluster support next.
In the bigger picture, current development argues that rebound from 1.0505 (2020 low) might be completed with three waves up to 1.1149 already. Sustained trading below 55 week EMA (now at 1.0885) will affirm this bearish case. Further break of 1.0737 cluster support (61.8% retracement of 1.0505 to 1.1149 at 1.0751) will bring retest of 1.0505 low.
