Upside of EUR/CHF’s Recommencement
Trading character of the cross is neutral towards consolidation over 1.1540. Minor resistance of 1.1684 should contain upside of recommencement and cause restoration of decline. Following pivot points include: (S1) 1.1570; (P) 1.1596; (R1) 1.1621.
The fall from 1.1832 is a correction for medium term lift from 1.0629. Under 1.1540, EUR/CHF will align 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.