EUR/CHF’s Fall Hits Minimum

Technical Reports

The fall has reached 1.1445 minimum. Trading of the cross is on the downside. Actual decline from 1.1832 is a correction for medium term surge from 1.0629. EUR/CHF should then align a cluster support of 1.1355. Following pivot points include: (S1) 1.1407; (P) 1.1500; (R1) 1.1556.

Breach of 1.1639 resistance will confirm formation of a near term bottom. If EUR/CHF recommences, forecast will stay bearish.

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.