Progression of EUR/CHF’s Correction

Technical Reports

Trading stance of the cross is neutral. The retreat from 1.0986 has concluded at 1.0837. Following pivot points include: (S1) 1.0877; (P) 1.0890; (R1) 1.0916.

Over 1.0907 trading will turn up on the upside towards a repeat test of 1.0986/0999 resistance zone. Under 1.0836 the correction will expand. Sustained support from the support zone of 1.0791/0872 should draw a 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.