Daily Pivots: (S1) 1.0140; (P) 1.0159; (R1) 1.0180; More….
Intraday bias in EUR/CHF remains neutral for some consolidations above 1.0129 temporary low. But further decline is expected as long as 1.0242 minor resistance holds. Rebound from 0.9970 could have completed at 1.0400 already. Below 1.0129 will turn bias to the downside for retesting 0.9970. On the upside, however, break of 1.0242 will turn bias back to the upside for 1.0400 resistance instead.
In the bigger picture, long term down trend from 1.2004 (2018 high) is still in progress. Next target is 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650. In any case, sustained break of 1.0505 support turned resistance (2020 low) is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish.
