Bullish Trend Reversal In EUR/CHF
Trading is on the upside for resistance 1.1452, as growth from 1.1178 has resumed. Break of 1.1154/98 will carry larger bearish implications. Pivot points are at: (S1) 1.1279; (P) 1.1309; (R1) 1.1364.
Break of resistance 1.1342 affirms the case of bullish trend reversal after hitting key support zone 1.1154/98. While deeper fall is not excluded, strong support from key support zone of 1.1154/98 should bring a recoil.
Price moves from a medium term top 1.2004 are corrective. A break of key resistance 1.2 is still expected in the medium term long term. Downside should be contained by support zone of 1.1198 and 61.8% retracement of 1.0629 to 1.2004 at 1.1154. Overcoming of support zone 1.1198 will point out a long term trend reversal. In that case, 1.0629 key support will be back into focus.