Short Term Topping In EUR/CHF
Trading is on the downside for pull back to 4 hour 55 EMA (now at 1.1816). Overcoming of support 1.1888 points out a short term topping at 1.2004. Following pivot points include: (S1) 1.1846; (P) 1.1903; (R1) 1.1940.
While overcoming of 1.2004 will confirm uptrend resumption, more corrective trading is awaited in near term. Downside should be contained by support from 38.2% retracement of 1.1445 to 1.2004 at 1.1790.
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 1.2000 was already met. Overcoming of 1.1445 will point out a medium term trend reversal.