Rebound In EUR/CHF
Trading of the cross stays neutral to consolidation over the short term minimum of 1.1236. Larger fall is projected while the minor resistance of 1.1310 is present. Following pivot points include: (S1) 1.1253; (P) 1.1273; (R1) 1.1304.
Under 1.1236, the cross will align 1.1154/98 key support area. Firm support from that zone will draw recoil. Over the minor resistance of 1.1310, trading will turn up on the upside to 1.1452 resistance. Strong breach of 1.1154/98 will imply some bearishness.
A medium term top of 1.2004 is viewed as correction. A support area of 1.1154/98 should retain downside. Breach of 1.2 key resistance is projected. The cluster level of 1.1198 (2016 high), 61.8% retracement of 1.0629 to 1.2004 at 1.1154 should draw recoil. Breach of the key resistance of 1.2 should occur in the medium- to long term. Decisive breach of 1.1154/98 will confirm a long term trend reversal and the key support of 1.0629 will become the next target.