EUR/CHF’s Further Surge

Trading tone of the cross is neutral. Considering bearish divergence in 4 hour MACD, soon there will be topping. Upside will be bounded even if further surge occurs. Following pivot points include: (S1) 1.1644; (P) 1.1668; (R1) 1.1711.

Firm breach of 1.1584 support will suggest a reversal and prognosis will become bearish till 38.2% retracement of 1.0629 to 1.1736 at 1.1313.

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.