Strong Recoil In EUR/CHF

Technical Reports

Trading tone is neutral, as the cross recoiled strongly after hitting 1.1260. Pivot points are at: (S1) 1.1307; (P) 1.1330; (R1) 1.1370.

Overcoming of resistance 1.1356 will indicate completion of the pull back from 1.1501 at 1.1260. In that case, further growth would be seen for retesting 1.1501.

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.