EUR/CHF’s Decline Has a Corrective Character

Larger drop is anticipated if the whole 1.1487 minor resistance is present. Decline from 1.1622 has a corrective character. It should align accumulation of support 1.1257. Following pivot points include: (S1) 1.1419; (P) 1.1441; (R1) 1.1455.

Firm support in that spot will restrain downside and draw recoil. Breach of 1.1487 minor resistance will indicate that the retreat has finished and draw repeat test of 1.1622.

Long term lift is extending. The cross might head towards 1.2000. While the 1.1198 resistance turned support stands, this prognosis will prevail.