EUR/CHF’s Bigger Retreat
Trading of the cross is still neutral towards consolidation under 1.1709 level. Bigger retreat is awaited. The prognosis stays bullish with a likelihood of another rally if 1.1483 minor support stands. Following pivot points include: (S1) 1.1588; (P) 1.1610; (R1) 1.1640.
Breach of 1.1709 will head towards key level of 1.2. Breach of 1.1483 will suggest trend reversal. Larger fall 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.