Another Rise In EUR/CHF
With the minor support of 1.1265, another increase is projected. The cross has created a temporary bottom at 1.1178 after touching the key support of 1.1154/98. Following pivot points include: (S1) 1.1251; (P) 1.1297; (R1) 1.1332.
1.1452 resistance should become the next target and breach will argue ending of the intact drop from 1.2004. Breach of 1.1265 minor support will align the key support area of 1.1154/98.
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.