EUR/CHF Remains In Consolidation

Technical Reports

Trading tone remains neutral, as consolidation below temporary top 1.1491 continues. Trading above 1.1491 will aline resistance 1.1713 for confirming bullish trend reversal. Pivot points are at: (S1) 1.1429; (P) 1.1456; (R1) 1.1474.

Break of minor support 1.1368 will point out completion of the bounce and trading back to the downside for 1.1154/98 zone. Further growth is expected while minor support 1.1368 keeps.

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.