Daily Pivots: (S1) 1.0111; (P) 1.0165; (R1) 1.0232; More….
Intraday bias in EUR/CHF stays on the downside at this point. Break of 1.0086 support will affirm that case that corrective rebound from 0.9970 has completed after failing 1.0505 long term resistance. Deeper fall would be seen to retest 0.9970 low next. On the upside, above 1.0232 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.0513 resistance 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.
