Daily Pivots: (S1) 1.0787; (P) 1.0797; (R1) 1.0808; More….
Intraday bias in EUR/CHF is mildly on the downside at this point. Rebound from 1.0737 could have completed at 1.0844 already. Deeper fall would be seen to retest 1.0737 first. Break there will target 1.0658, as another falling leg inside the sideway pattern from 1.0915.
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.
