EUR/CHF dropped further to as low as 1.4231 last week before turning sideway. Some more consolidations could possibly be seen initially this week. However, in case of stronger recovery, we'd expect strong resistance from 4 hours 55 EMA (now at 1.4364) and bring fall resumption. On the downside, below 1.4231 will target 1.4 psychological level next.

In the bigger picture, the strong break of 1.4135 (2008 low) confirms that whole long term down trend from 1.6287 has resumed. Next medium term target will be 61.8% projection of 1.6368 to 1.4315 from 1.5138 at 1.3869. On the upside, break of 1.4557 spike low resistance is needed to be first signal of bottoming. Otherwise, medium term outlook will remain bearish.

In the long term picture, fall from 1.6827 should be resuming whole down trend from 1993 high of 1.8234. We'd expect such down trend to extend towards 100% projection of 1.8234 to 1.4391 from 1.6827 at 1.2984 in the longer run.

EUR/CHF

EUR/CHF

EUR/CHF

EUR/CHF