EUR/CHF’s Medium Term Rally
Trading tone of the cross is neutral. The consolidation from 1.1709 is extending. Under 1.1559 minor support, larger decline will occur. If 1.1483 support stands, prognosis remains bullish. Following pivot points include: (S1) 1.1597; (P) 1.1624; (R1) 1.1638.
Over 1.1663, trading will turn up on the upside towards a maximum of 1.1709. Breach will prolong medium term rally to key level of 1.2. Breach of 1.1483 might indicate 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.