EUR/CHF's Medium Term Uptrend

Technical Reports

The cross rose to the 1.1875 maximum. Sustained breach of 1.1832 maximum argues restoration of a medium term uptrend. Trading turned up on the upside to 1.2 handle. Following pivot points include: (S1) 1.1785; (P) 1.1805; (R1) 1.1843.

Breach will head towards 61.8% projection of 1.0629 to 1.1832 from 1.1445 at 1.2188. Under the minor support of 1.1804, trading will turn up in the neutral position. The pull back will be restrained over 1.1649 support, causing further increase.

Strong breach of 1.1832 should prolong the medium term uptrend, surpassing the SNB imposed floor of 1.2000. Then, the maximum of 1.2649 will be aligned. If 1.1445 support is present, the forecast will stay bullish.