EUR/CHF’s Short Consolidation

The rally has prolonged after a short consolidation. Trading of the cross is on the upside. Actual increase should head towards 1.1127 resistance. Following pivot points include: (S1) 1.0991; (P) 1.1015; (R1) 1.1045.

Breach of 1.0983 support should suggest formation of a near term top. If EUR/CHF pulls back, prognosis stays bullish.

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.