EUR/CHF’s Medium Term Top

Technical Reports

The cross is sticking inside of consolidation over 1.1445 level. Trading is still neutral. If the whole 1.1639 resistance holds, another fall is anticipated. Following pivot points include: (S1) 1.1516; (P) 1.1539; (R1) 1.1571.

Under 1.1445, the corrective decline from 1.1832 will extend to the cluster support of 1.1355. Sustained support from that area 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.