Lack of Impulse in EUR/CHF

The cross lacks impulse as it has met 1.1072 level. Trading became neutral. If 1.0983 support is present, another rally is favored. Following pivot points include: (S1) 1.1010; (P) 1.1040; (R1) 1.1063.

Actual surge from 1.0629 should head towards the resistance zone 1.1127/98. Breach of 1.0983 will suggest formation of a temporary top and move trading to 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.