EUR/CHF’s Correction Has Concluded

The correction from 1.0986 might move downwards. The support zone of 1.0791/0872 should fill the downside and cause a recoil. Following pivot points include: (S1) 1.0833; (P) 1.0846; (R1) 1.0862.

Breach of 1.0908 resistance will indicate that the correction has concluded. If that happens, trading will turn up on 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.