Consolidation in EUR/CHF

Technical Reports

The rally extended and hit the 1.1023 level. Trading is still on the upside towards 61.8% projection of 1.0652 to 1.0986 from 1.0830 at 1.1036. Following pivot points include: (S1) 1.0984; (P) 1.1001; (R1) 1.1024.

Sustained breach in that spot will head towards 100% projection at 1.1164. Under 1.0988 minor support trading will turn up in the neutral position. Then, the consolidation and further rally will occur.

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.