EUR/CHF Consolidates Above Level 1.0720, Lacks Buyers at Higher Price Levels

Key Resistance Levels: 1.0800, 1.0900, 1.1000
Key Support Levels: 1.0600, 1.0500, 1.0400

EUR/CHF Price Long-term Trend: Ranging
The pair has continued to trade sideways after being resisted at level 1.0800. EUR/CHF pair drops to level 1.0716 and continues sideways move. The bulls have attempted pushing prices upward but were resisted at level 1.0750. The recent upward and downward moves have been insignificant.

Daily Chart Indicators Reading:
The pair is at level 55 of the Relative Strength Index period 14. It implies that the market has reached the uptrend zone and above the centerline 50. The 50-day SMA and 21-day SMA are sloping sideways. It indicates the present sideways trend.

EUR/CHF Medium-term Trend: Ranging
On the 4-hour chart, the pair is fluctuating between levels 1.0720 and level 1.0800. Presently, the market is consolidating above level 1.0720. The price is falling toward the support level. The pair will resume a downward move if the current support is breached. The market will continue its sideways move if the support holds.

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping sideways indicating the sideways trend. The pair is above 40% range of the daily stochastic. It indicates that the market is in a bullish momentum. This is contrary to the present price action.

General Outlook for EUR/CHF
The EUR/CHF is still consolidating between level 1.072 and 1.0800. The price movement has been insignificant because of the low volatility. Most of the price action is at the support of the price range. A break below it will propel price to fall.


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