EUR/CHF’s Correction

Technical Reports

Trading condition of the cross is neutral towards consolidation under 1.1087. The accumulation of support 1.0986 should restrain the downside and draw a lift restoration. Following pivot points include: (S1) 1.0999; (P) 1.1024; (R1) 1.1041.

Breach of 1.1087 will head towards 1.1127/98 key resistance. According to bearish divergence in daily MACD, breach of 1.0986/89 will point out near term topping. If that happens, larger decline should align 55 day EMA at 1.0918 and lower.

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.