EUR/CHF is back under some selling pressing in European session as fall from 1.0871 is trying to resume. With 1.0790 support broken, the development suggests that rebound from 1.0661 might be completed after failing 1.0887 resistance. The corrective pattern from 1.0915 is extending with another falling leg. Sustained break of 55 day EMA (now at 1.0777) could prompt downside acceleration back towards 1.0661.
At the same time, GBP/CHF’s recovery also lost momentum quickly and could be heading back to 1.1797 support. Firm break there will pave the way to 1.1598 support, as part of the consolidation pattern from 1.2259. Both developments, if happen together, would double confirm near term rally in Swiss Franc, which could see USD/CHF drops through 0.8875 temporary low too.
