EUR/CHF’s Temporary Bottom
Larger drop is awaited if the minor resistance of 1.1639 is present. Decline from 1.1832 is a correction for medium term lift from 1.0629. Following pivot points include: (S1) 1.1543; (P) 1.1581; (R1) 1.1604.
EUR/CHF should align a cluster support of 1.1355. Over 1.1639, a temporary bottom will be formed and the recommencement will become clearer.
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.