EUR/CHF Created a Temporary Top

Technical Reports

The cross has created a temporary top at 1.0964. Trading became neutral towards consolidation. 1.0893 support should fill the downside of a pull back and lead to further rally. Following pivot points include: (S1) 1.0929; (P) 1.0946; (R1) 1.0960.

Over 1.0964, EUR/CHF will head towards the resistance zone of 1.0986/0999. Breach in that spot will prolong the entire rally from 1.0629 towards 61.8% projection of 1.0652 to 1.0986 from 1.0830 at 1.1036.

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.