EUR/CHF Is Restricted

The cross is restricted under 1.1721 resistance. Trading tone is neutral. Prognosis stays bullish if the entire 1.1584 support holds. Actual medium term lift from 1.0629 should reach the key level of 1.2. Following pivot points include: (S1) 1.1665; (P) 1.1690; (R1) 1.1731.

According to bearish divergence in 4 hour MACD, sustained breach of 1.1584 will argue short term reversal and cause 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.