EUR/CHF’s rise from 1.0503 resumes by breaking through 1.1096 resistance, and hits as high as 1.1118 so far. Further rally should now be seen to 100% projection of 1.0503 to 1.0915 from 1.0737 at 1.1149. Sustained break there will indicate upside acceleration and carries larger bullish implications. Next target will be 161.8% projection at 1.1404.
Now, a focus will be on GBP/CHF to gauge the general selling pressure on Swiss Franc. Break of 1.2893 will resume the larger rise from 1.1102, Next target will be 1.3310 resistance, and probably further to 161.8% projection of 1.1102 to 1.2259 from 1.1683 at 1.3555.
CHF/JPY is another cross to look at. Firm break of 116.20 support will argue that whole rise from 106.71has completed at 118.84. Deeper fall would be seen back to 113.73 support first.
