Downside of EUR/CHF’s Pull Back

Serious fall points out formation of a short top at 1.1059. Trading character of the cross is neutral till consolidation. Following pivot points include: (S1) 1.0990; (P) 1.1023; (R1) 1.1048.

Downside of a pull back must be restrained over 1.0936 support, causing further rally. Over 1.1059, EUR/CHF will head towards 1.1127 resistance.

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.