Bearish Forecast Of EUR/CHF
Trading is on the downside for support 1.1260. A near term forecast will be mildly bearish even in case of recovery. Pivot points are at: (S1) 1.1270; (P) 1.1290; (R1) 1.1303.
Overcoming of support 1.1260 will resume the decline from 1.1501 to low 1.1173. Hitting of resistance 1.1356 will point out a short term bottoming.
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.