EUR/CHF: Widening of Uptrend Is Possible

Technical Reports

Trading tone is still neutral, as the cross is staying in consolidation below temporary top 1.2004. Further increase is expected, considering minor support 1.1888. Following pivot points include: (S1) 1.1936; (P) 1.1955; (R1) 1.1975.

Overcoming of 1.2 will widen the current uptrend to 61.8% projection of 1.0629 to 1.1832 from 1.1445 at 1.2188. Break of 1.1888 will point out a short term topping, and bring deeper pull back to support zone 1.1445/1832.

A long term uptrend in the cross continues. The uptrend could extend to 1.2649 (2013 maximum), considering support 1.1445. There are no signals of trend reversal yet, despite 1.2003 was already met.