EUR/CHF On The Upside

Technical Reports

Trading of the cross stays on the upside to repeat test of 1.1832 maximum. Sustained resistance from that place should draw further drop and prolong the corrective pattern. Strong breach will indicate an uptrend restoration. Breach of 1.1649 support will align a 1.1445 level. Following pivot points include: (S1) 1.1734; (P) 1.1768; (R1) 1.1806.

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.