[m.youssif]

EUR/CHF recovers mildly after dipping to 1.2843 but with 1.3053 minor resistance intact, fall from 1.3234 is still expected to continue to 1.2736 support first. Break there will indicate that consolidations from 1.2401 is likely completed and larger downtrend is possibly resuming. On the upside above 1.3053 minor support will delay the immediate bearish view and bring some more consolidations first.

In the bigger picture, whole down trend from 1.6287 (2007 high) is still in progress and in any case, medium term outlook will remain bearish as long as 1.3833 resistance holds. The current down trend would likely continue through 1.2 psychological level towards 100% projection of 1.5138 to 1.2765 from 1.3833 at 1.1460, which is close to long term projection level at 1.1516. However, break of 1.3833 will confirm medium term bottoming and should bring strong rebound to 1.4315 resistance and above.

[m.youssif]

EUR/CHF recovers mildly after dipping to 1.2843 but with 1.3053 minor resistance intact, fall from 1.3234 is still expected to continue to 1.2736 support first. Break there will indicate that consolidations from 1.2401 is likely completed and larger downtrend is possibly resuming. On the upside above 1.3053 minor support will delay the immediate bearish view and bring some more consolidations first.

In the bigger picture, whole down trend from 1.6287 (2007 high) is still in progress and in any case, medium term outlook will remain bearish as long as 1.3833 resistance holds. The current down trend would likely continue through 1.2 psychological level towards 100% projection of 1.5138 to 1.2765 from 1.3833 at 1.1460, which is close to long term projection level at 1.1516. However, break of 1.3833 will confirm medium term bottoming and should bring strong rebound to 1.4315 resistance and above.