EUR/CHF’s Near Term Minimum
The cross has formed a near term minimum at 1.1540. Trading condition is neutral. 1.1684 resistance should bound the recommencement and draw further fall. Following pivot points include: (S1) 1.1563; (P) 1.1588; (R1) 1.1609.
The decline from 1.1832 is a correction for medium term increase from 1.0629. Under 1.1540, EUR/CHF will head towards the cluster support of 1.1355.
A medium term top should be formed at 1.1832. Long term reversal hasn’t been confirmed yet. If resistance turned support of 1.1198 stands, further increase should surpass SNB imposed floor of 1.2000.