EUR/CHF’s Correction is Progressing

The correction from 1.1709 is progressing. Larger decline is awaited. If 1.1483 support is present, short term prognosis remains bullish. Following pivot points include: (S1) 1.1579; (P) 1.1590; (R1) 1.1605.

Over 1.1663 trading will turn up on the upside towards 1.1709 maximum. Breach will prolong medium term rally to the key level of 1.2. Breach of 1.1483 will suggest reversal. Deeper 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.