EUR/CHF’s Feeble Upside Impulse
Considering bearish divergence in 4 hour MACD, upside impulse of the cross is feeble. If 1.1584 support is present, prognosis remains bullish. Following pivot points include: (S1) 1.1661; (P) 1.1691; (R1) 1.1711.
Medium term lift from 1.0629 would reach the key level of 1.2. Sustained breach of 1.1584 will confirm short term reversal and cause a retreat towards 1.1355 support and lower.
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.