Recovery In EUR/CHF
Stance of trading is neutral, as the pair recovered after falling to 1.1864. A short term top was formed at 1.2004 after failing to sustain above 1.2. Following pivot points include: (S1) 1.1880; (P) 1.1901; (R1) 1.1936.
Trading above 1.1932 will turn focus back to maximum 1.2004. Downside should be contained by support from 38.2% retracement of 1.1445 to 1.2004 at 1.1790 and bring a recoil.
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.