EUR/CHF’s Bearish Divergence

Technical Reports

Trading of the cross stays neutral to consolidation over the short term minimum of 1.1445. If 1.1639 resistance is present, another decrease is projected. Following pivot points include: (S1) 1.1503; (P) 1.1526; (R1) 1.1566.

Under 1.1445, the corrective drop from 1.1832 will extend to the cluster support of 1.1355. Sustained support from that spot should restrain the downside and cause recoil.

According to bearish divergence in daily MACD, 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.