EUR/CHF’s Trading Is Slightly On The Downside

Technical Reports

The breach of 1.0837 indicates that correction from 1.0986 is extending. Trading is slightly on the downside till larger decline. Following pivot points include: (S1) 1.0822; (P) 1.0847; (R1) 1.0860.

Firm support from a support zone of 1.0791/0872 should cause a recoil. Breach of 1.0908 resistance will affirm 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.