EUR/CHF’s Retreat Finished

Retreat from 1.1709 has finished at 1.1541. Trading is on the upside towards 1.1709 resistance. Following pivot points include: (S1) 1.1635; (P) 1.1655; (R1) 1.1691.

Breach will extend medium term rally and head towards 61.8% projection of 1.1387 to 1.1709 from 1.1541 at 1.1740, and then towards 100% projection at 1.1863. While 1.1541 support is present, this prognosis prevails.

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.