EUR/CHF’s Support Will Cause Recoil

Technical Reports

Trading condition of the cross is neutral. Breach of 1.0908 will suggest that retreat from 1.0986 has concluded at 1.0837. If that happens, trading will turn up on the upside towards a repeat test of 1.0986/0999 resistance zone. Following pivot points include: (S1) 1.0844; (P) 1.0862; (R1) 1.0873.

Under 1.0836 the correction will enlarge. Firm 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.