Price Moves In EUR/CHF Are Seen as Consolidation
Trading is neutral, but another fall is not excluded. Price moves from 1.1501 are viewed as a consolidation. Pivot points are at: (S1) 1.1390; (P) 1.1412; (R1) 1.1439.
Break of resistance 1.1501 will indicate the case of trend reversal. Overcoming of 1.1470 will argue that growth from 1.1173 is resuming. In case of another fall, downside should be contained by 61.8% retracement of 1.1173 to 1.1501 at 1.1298.
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.