EUR/CHF’s Firm Resistance

Trading character of the cross is neutral. Soon, a top will be formed. Firm resistance will appear under 1.2 handle, leading to medium term reversal. Following pivot points include: (S1) 1.1670; (P) 1.1708; (R1) 1.1733.

Under 1.1670 minor support trading will turn up on the downside towards 1.1602 support. Another breach of 1.1602 will argue reversal and prognosis will become bearish to 1.1387 and lower.

Soon, a medium term top will be formed. A long term growth keeps expanding. EUR/CHF will align 1.2000. If resistance turned support of 1.1198 stands, this prognosis prevails. If the cross hits 1.1198, the forecast will be changed.