Repeat Test of Resistance Zone in EUR/CHF

Technical Reports

Break of 1.0902 minor resistance suggests that correction from 1.0986 might have concluded at 1.0836. Trading is on the upside towards repeat test of a 1.0986/0999 resistance zone. Following pivot points include: (S1) 1.0855; (P) 1.0881; (R1) 1.0918.

Under 1.0836 the correction will start progressing. Sustained support from the support zone of 1.0791/0872 should draw recoil.

Price dynamic from 1.1198 is considered as a correction. Firm recoil should confirm its conclusion after facing 38.2% retracement of 0.9771 to 1.1198 at 1.0653. Choppy breach of 1.0999 resistance will align a test on the maximum of 1.1198.