EUR/CHF: Fall Could Extend

Technical Reports

Trading tone is neutral. While minor resistance 1.1356 keeps, a near term forecast will stay cautiously bearish and fall from 1.1501 is in favor to continue. Trading below minor support 1.1295 will back to the downside for 1.1260. Pivot points are at: (S1) 1.1303; (P) 1.1322; (R1) 1.1336.

Overcoming of resistance 1.1356 will indicate completion of the pull back from 1.1501 at 1.1260. In that case, trading will be turned back to the upside for 1.1501. Hitting of 1.1260 will widen the decline from 1.1501 towards low 1.1173.

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.