EUR/CHF's Daily And Weekly MACD

Technical Reports

Downside impulse in the cross is weak. Larger drop would align 1.1478 support, while the minor resistance of 1.1637 is present. Breach in that area will indicate that corrective rebound from 1.1366 has finished at 1.1713. Following pivot points include: (S1) 1.1561; (P) 1.1580; (R1) 1.1599.

EUR/CHF should extend the fall from 1.2004 through 1.1366. Over the minor resistance of 1.1637, trading will turn up on the upside and the lift from 1.1366 will extend. Firm resistance from 61.8% retracement of 1.2004 to 1.1366 at 1.1760 should lead to 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.