EUR/CHF's Recommencement

Technical Reports

The cross broke the minor support of 1.1265 and recommenced. Trading became neutral. Following pivot points include: (S1) 1.1261; (P) 1.1290; (R1) 1.1318.

Breach of 1.1342 resistance will confirm short term reversal. In that case, trading will turn up on the upside to 1.1452 resistance. If further decline is seen, firm support from the key support area of 1.1154/98 will lead to recoil.

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.