Corrective Bounce In EUR/CHF
Trading is on the upside, as a corrective recoil from 1.1366 could widen higher. Trading above 1.1760 will retest high 1.2004. Pivot points are at: (S1) 1.1644; (P) 1.1676; (R1) 1.1732.
Upside should be limited by 61.8% retracement of 1.2004 to 1.1366 at 1.1760. Trading below 1.1618 will back to the downside for support 1.1478. Widening of correction from 1.2004 is expected.
Price moves from 1.2004 are corrective. The cross was rejected by prior SNB imposed floor at 1.2000 with a medium term top at 1.2004. While another fall is not excluded, downside should be contained by strong support from 61.8% retracement of 1.0629 to 1.2004 at 1.1154.