Expansion of EUR/CHF’s Correction

Technical Reports

Trading tone of the cross is neutral. Breach of 1.0837 support will expand the correction from 1.0986 and push trading to the downside. If that happens, firm support from a support zone of 1.0791/0872 should draw a recoil. Following pivot points include: (S1) 1.0846; (P) 1.0855; (R1) 1.0867.

Breach of 1.0908 resistance will indicate ending of correction and move trading to the upside towards a repeat test of 1.0987/0999 resistance zone.

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.