Daily Pivots: (S1) 1.0730; (P) 1.0757; (R1) 1.0771; More….
Intraday bias in EUR/CHF stays on the downside for the moment. Fall from 1.0871 is seen as another falling leg in the consolidation pattern from 1.0915. Deeper decline could be seen back to 1.0661 support. On the upside, above 1.0799 minor resistance 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.
