EUR/CHF's Top

Technical Reports

Trading character of the cross is neutral. The consolidation from a short term top of 1.1740 is resuming. If 1.1630 minor support holds, another increase is awaited. Over 1.1740, EUR/CHF will align a test of 1.1832 maximum. Following pivot points include: (S1) 1.1677; (P) 1.1692; (R1) 1.1712.

Firm resistance should cause further decrease. Corrective pattern from 1.1832 should align the cluster support of 1.1355 and then it will be finished. Under 1.1630 minor support, the cross will align the minimum of 1.1445.

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.