Daily Pivots: (S1) 1.1552; (P) 1.1590; (R1) 1.1627; More….
Further rise is still expected in EUR/CHF as long as 1.1523 minor support holds. Medium term rally is possibly resuming. Sustained trading above 1.1622 resistance pave the way to 1.2 key level. On the downside, below 1.1523 will dampen this bullish case and turn bias to the downside for 1.1387 instead. In that case, consolidation from 1.1622 will extend for a while.
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.
