[m.youssif]

EUR/CHF's consolidation from 1.2843 might extend further but even in case of another rise, upside is expected to be limited by by 1.3042 resistance and bring another fall to 1.2736. Break there will affirm the case that consolidations from 1.2401 has finished at 1.3234 too and the larger down trend is resuming for another low below 1.2401. Nevertheless, 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's consolidation from 1.2843 might extend further but even in case of another rise, upside is expected to be limited by by 1.3042 resistance and bring another fall to 1.2736. Break there will affirm the case that consolidations from 1.2401 has finished at 1.3234 too and the larger down trend is resuming for another low below 1.2401. Nevertheless, 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.