EUR/CHF's Larger Retreat
The recoil from 1.1864 keeps expanding. The consolidation in the cross should prolong with a larger retreat while 1.2004 is present. Following pivot points include: (S1) 1.1925; (P) 1.1941; (R1) 1.1958.
Sustained support from 38.2% retracement of 1.1445 to 1.2004 at 1.1790 will bound downside and cause recoil. Choppy breach of 1.2004 will indicate uptrend restoration.
A long term uptrend is resuming. Trend reversal hasn’t been confirmed yet. While 1.1445 support stands, the uptrend will hit the maximum of 1.2649. Breach of 1.1445 will confirm a medium term trend reversal and the forecast will turn bearish.