Daily Pivots: (S1) 1.1521; (P) 1.1575; (R1) 1.1638; More…
As long as 1.1639 minor resistance holds, deeper decline is expected in EUR/CHF. Fall from 1.1832 is correcting medium term rise from 1.0629. Next target will be 1.1355 cluster support (38.2% retracement of 1.0629 to 1.1832 at 1.1372.) On the upside, though, above 1.1639 will indicate short term bottoming and bring stronger recovery first.
In the bigger picture, a medium term top should be in place at 1.1832 on bearish divergence condition in daily MACD. But there is no indication of long term reversal yet. As long as 1.1198 resistance turned support holds, we’d still expect another rise through prior SNB imposed floor at 1.2000.
 On the upside, though, above 1.1639 will indicate short term bottoming and bring stronger recovery first. ){kind=link}