EUR/CHF's Bearish Trend
Corrective recoil in the cross from 1.1366 is expected to have finished at 1.1713. Larger decline should align 1.1478 support. Breach in that place will indicate bearishness and head towards the minimum of 1.1366 and lower. Following pivot points include: (S1) 1.1574; (P) 1.1590; (R1) 1.1614.
Over the minor resistance of 1.163, trading will turn up on the upside and prolong the lift from 1.1366. Firm resistance from 61.8% retracement of 1.2004 to 1.1366 at 1.1760 should draw a short term reversal.
There has been a strong rejection from prior SNB imposed floor of 1.2000. A medium term top could be formed at 1.2004, basing on a bearish divergence condition in daily MACD. Price dynamic from 1.2004 is seen as correction for the uptrend from 1.0629. Larger decline should align a 1.1198 key cluster level, 61.8% retracement of 1.0629 to 1.2004 at 1.1154. Sustained support from that area should restrain downside.