Bounce In EUR/CHF Extends Higher
Trading is on the upside, as the bounce from 1.1343 extends higher and break of 1.1429 turns focus back to resistance 1.1501. Further growth to resistance 1.1713 is expected. Pivot points are at: (S1) 1.1407; (P) 1.1428; (R1) 1.1454.
Break of resistance 1.1501 will indicate the case of trend reversal. Overcoming of 1.1343 will back trading to the downside for key support zone 1.1154/98.
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.