EUR/CHF Lost Upside Momentum

Technical Reports

Trading is neutral, as the cross lost upside impulse after hitting 1.1384. Further growth is expected while support 1.1221 keeps. Hitting of 1.1221 will turn focus back to key support zone 1.1154/98. Pivot points are at: (S1) 1.1319; (P) 1.1352; (R1) 1.1372.

Break of resistance 1.1452 should confirm the case of bullish trend reversal. Correction from 1.2004 has completed at 1.1178 after hitting key support zone 1.1154/98. Break of 1.1384 will resume the growth from 1.1178 to resistance 1.1452.

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.