EUR/CHF: Bullish Trend Reversal Is Awaited

Technical Reports

Trading tone is still neutral, as recovery from 1.1343 extends. Still, the cross is limited below resistance 1.1501. Pivot points are at: (S1) 1.1439; (P) 1.1454; (R1) 1.1472.

Break of resistance 1.1501 will indicate the case of trend reversal and trading be turned back to the upside for resistance 1.1713. 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.