EUR/CHF’s Trading Is Slightly On The Downside

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.