EUR/CHF’s Downside

Another rally is possible if the whole 1.0983 support holds. Operating surge from 1.0629 should head towards the resistance zone of 1.1127/98. Following pivot points include: (S1) 1.1016; (P) 1.1035; (R1) 1.1066.

Breach of 1.0983 will suggest near term topping. Then, trading will turn up on the downside towards 55 day EMA.

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. Further decline is likely.