EUR/CHF: Bounce Has Resumed

Technical Reports

Trading is on the upside for resistance 1.1713, as hitting of 1.1492 suggests resumption of the growth from 1.1173. Pivot points are at: (S1) 1.1411; (P) 1.1452; (R1) 1.1511.

Break of minor support 1.1392 will point out completion of the bounce and trading back to the downside for 1.1154/98 zone. Trading above resistance 1.1713 will confirm completion of the fall from 1.2004.

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.