EUR/CHF confirmed another weak closing after the test of the resistance of the gap up area 1,2265 – 1,2230 that for the moment limited the down move. Still possible an extension toward the 200 days line at 1,2241 but we don’t expect to move below this line.
The indicators of the daily chart are negative as well as those of the 4h one. Only the indicators of the hourly chart already returned above the line supporting a possible rebound. Having formed bullish divergences in the hourly chart the tone is negative. Therefore possible move up should be seen as corrective and s/t selling opportunity for a test of the 1,2240 area!!
We remain on the sideline.
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FUTURE TREND RESEARCH