Daily Pivots: (S1) 1.0354; (P) 1.0403; (R1) 1.0472; More….
Intraday bias in EUR/CHF remains on the upside at this point. Current rise from 0.9970 should target 100% projection of 0.9970 to 1.0086 from 1.0400 at 1.0516 next. On the downside, below 1.0331 minor support will turn intraday bias neutral and bring consolidations first. But further rally will remain mildly in favor as long as 1.0186 support holds.
In the bigger picture, as long as 1.0505 support turned resistance (2020 low) holds, long term down trend from 1.2004 (2018 high) is expected to continue. Next target is 100% projection of 1.2004 to 1.0505 to 1.1149 at 0.9650. However, firm break of 1.0505 will suggest medium term bottoming, and bring stronger rebound towards 1.1149 structural resistance.
