Cross-rates signals: EUR/CHF is in the correction phase

Given the dynamics of the EUR/CHF pair over the past two months, which demonstrates a clear slowdown in the existing uptrend, one should expect a low-key correction, which is also indicated by the continuing divergence on the day timeframe.

If this pair gains a foothold below the level of 1.1750, it is a signal to enter the decline. Which will then open the way to the support levels: 1.1720 and 1.1700. Returning the pair to 1.1770 will cancel the scenario to decrease and will indicate the preservation of the upward dynamics. The further growth of optimism in the euro area may also cancel the decrease in the EUR/CHF cross-rate.

Fig. EUR/CHF. The current price is 1.1750.

Hanzenko Anton