EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.1417; (P) 1.1442; (R1) 1.1457; More…

No change in EUR/CHF’s outlook. With 1.1511 minor resistance intact, deeper fall is expected for 1.1355 support first. Break will target 1.1257 cluster support (38.2% retracement of 1.0652 to 1.1622 at 1.1251). Strong support is expected there to contain downside and bring rebound. Meanwhile, break of 1.1511 minor resistance will suggest that the pull back is completed and bring retest of 1.1622.

In the bigger picture, long term rise from SNB spike low back in 2015 is still in progress. EUR/CHF should now be heading back to prior SNB imposed floor at 1.2000. For now, this will be the favored case as long as 1.1198 resistance turned support holds.

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