EUR/CHF's Rally Progression
The rally extended after a short consolidation. It has so far reached 1.1894 maximum. Trading of the cross turned up on the upside to 1.2 handle. Following pivot points include: (S1) 1.1861; (P) 1.1873; (R1) 1.1892.
Breach in that area will prolong the medium term uptrend for 61.8% projection of 1.0629 to 1.1832 from 1.1445 at 1.2188. Under the minor support of 1.1847, trading will turn up in the neutral position and cause consolidation. In that case, further rally would be less possible.
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.