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EUR/CHF's recovery and break of near term falling trend line resistance last week argues that recent choppy fall has possibly completed at 1.5080 already. Initial bias will remain on the upside this week as long as 1.5102 minor support holds. Further rally could now be seen towards 1.5238 resistance next. Break there will also indicate that consolidations from 1.5446 has completed and will bring retest of this resistance. On the downside, however, below 1.5102 minor support will dampen this immediate bullish view and indicate that another fall could still be seen to 1.5076 and below before concluding recent consolidations.
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