EUR/CHF’s Possible Trend Reversal

Corrective retreat from 1.1709 keeps extending and it might move downwards. The prognosis stays bullish with a possibility of another rally if 1.1483 minor support stands. Following pivot points include: (S1) 1.1562; (P) 1.1590; (R1) 1.1613.

Breach of 1.1709 will head towards key level of 1.2. Breach of 1.1483 will suggest trend reversal. Larger drop will align 1.1355 support.

A long term growth keeps expanding. EUR/CHF will align 1.2000. If support 1.1355 stands, this prognosis prevails. Breach of 1.1355 will suggest medium term top formation. The cross might hit 55 week EMA and even lower.