EUR/CHF’s Stronger Bullish Sentiment

Technical Reports

Trading of the cross is on the upside. Running rally is extending towards the key resistance level of 1.1198. Firm breach in that zone will suggest stronger bullish sentiment. If that happens, EUR/CHF will head towards 161.8% projection of 1.0652 to 1.0986 from 1.0830 at 1.1370. Following pivot points include: (S1) 1.1099; (P) 1.1136; (R1) 1.1194.

Under 1.1106 minor support, trading will turn up in the neutral position. 1.1006 should restrain the pull back and draw a lift restoration.

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.