EUR/CHF: Correction Has Resumed
Trading tone remains neutral and correction from 1.1501 has resumed. Further rise to resistance 1.1501 is expected. Pivot points are at: (S1) 1.1284; (P) 1.1335; (R1) 1.1366.
Break of resistance 1.1501 will indicate the case of trend reversal. Overcoming of 1.1470 will argue that the pull back has completed. 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.