Recovery In EUR/CHF
Trading is neutral, but another fall is possible, considering minor resistance 1.1653. Trading above minor resistance 1.1653 will bring another growth. Pivot points are at: (S1) 1.1605; (P) 1.1621; (R1) 1.1646.
It is forecast, that strong resistance from 61.8% retracement of 1.2004 to 1.1366 at 1.1760 will bring a near term trend reversal. Corrective recoil from 1.1366 has completed with three waves up to 1.1713.
Correction from 1.2004 is expected to extend for a while before completion. Also, 1.2004 is seen as a medium term top. While another decline cannot be ruled out, downside should be contained by strong support from 61.8% retracement of 1.0629 to 1.2004 at 1.1154.