EUR/CHF’s Further Increase
Trading state of the cross is neutral till consolidation over the short term minimum of 1.1540. If further increase occurs, 1.1684 resistance will restrict the upside and cause restoration of decline. Following pivot points include: (S1) 1.1527; (P) 1.1582; (R1) 1.1613.
The drop 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.