EUR/CHF: Bounce Has Resumed

Technical Reports

Trading is on the upside for resistance 1.1356, as the bounce from short term bottom 1.1224 resumes after reaching minor resistance 1.1301. Pivot points are at: (S1) 1.1260; (P) 1.1279; (R1) 1.1301.

Further growth to resistance 1.1501 is expected. Hitting of resistance 1.1356 should confirm a near term trend reversal. Trading below minor support 1.1267 will dampen this bullish case and turn focus back to low 1.1224.

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.