EUR/CHF Declines, Makes Lower Highs and Lower Lows, Targets Level 1.0827

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

EUR/CHF Price Long-term Trend: Bearish
EUR/CHF pair is in a downward move. The currency price has continued to make series of lower highs and lower lows. The pair is making a lower high at level 1.0961. Rejection at the recent high will signal the resumption of the downtrend. Meanwhile, on April 12 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the pair will fall to level 2.0 Fibonacci retracement or level 1.0827.

Daily Chart Indicators Reading:
The pair is at level 55 of the Relative Strength Index period 14. It implies that the pair is in the uptrend zone and above the centerline 50. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.

EUR/CHF Medium-term Trend: Bearish
On the 4 hour chart, the pair is falling. The currency pair is range-bound below level 1.0970. The market is falling after retesting the resistance zone. EUR/CHF price has broken below the moving averages which will accelerate the selling pressure.

4-hour Chart Indicators Reading
The pair is below the 40% range of the daily stochastic. It indicates that the market is in a bearish momentum. The moving averages are sloping downward indicating the downtrend.

General Outlook for EUR/CHF
EUR/CHF pair is in a downward move. The downtrend is making a lower high which will result in a downward move. According to the Fibonacci tool, EUR/CHF will fall to level 2.0 Fibonacci retracement or level 1.0872.

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