Daily Pivots: (S1) 1.0753; (P) 1.0769; (R1) 1.0780; More….
EUR/CHF is staying in consolidation from 1.0735 and intraday bias remains neutral first. Further fall is expected as long as 1.0799 minor resistance holds. Decline from 1.0871 is seen as another falling leg inside the consolidation pattern from 1.0915. Below 1.0735 will target 1.0661 support. On the upside, however, firm break of 1.0799 will bring retest of 1.0871 resistance instead.
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.
