SNB Imposed Floor in EUR/CHF

Technical Reports

The consolidation from 1.1445 is in progress. Trading is still neutral. If the whole 1.1639 resistance is present, short term prognosis remains bearish. Following pivot points include: (S1) 1.1523; (P) 1.1541; (R1) 1.1551.

Breach of 1.1445 will expand the corrective decline from 1.1832 and head towards cluster support of 1.1355. Firm support from that area will restrain downside and draw 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.