EUR/CHF’s Short Term Minimum
Trading of the cross is now neutral. The short term minimum has been formed at 1.1445. If 1.1639 resistance is present, larger fall is awaited. Following pivot points include: (S1) 1.1460; (P) 1.1493; (R1) 1.1538.
Under 1.1445, the corrective drop from 1.1832 will reach the cluster support of 1.1355. Sustained support from that spot should restrain the downside and cause recoil.
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 1.2000 SNB imposed floor.