EUR/CHF Faces Rejection at Level 1.0800, Resumes Uptrend

EUR/CHF Faces Rejection at Level 1.0800, Resumes Uptrend

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

EUR/CHF Price Long-term Trend: Bullish
The pair in an upward move but was resisted at level 1.0800. The market retraces to level 1.0720 and resume a fresh uptrend. A correction candle body tested the 0.786 Fibonacci retracement level. It indicates that the pair will rise and reach level 1.272 Fibonacci extension level. EUR/CHF will rise and reach level 1.0833.

EUR/CHF – Daily Chart

Daily Chart Indicators Reading:
The pair is at level 56 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 upward. It indicates the present upward move.

EUR/CHF Medium-term Trend: Bullish
On the 4-hour chart, the pair is falling after testing the resistance zone of level 1.0800. The market will retrace to level 1.0716 before the resumption of the uptrend.

EUR/CHF – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMA are sloping upward indicating the uptrend. The pair is above 25% range of the daily stochastic. It indicates that the market is in a bullish momentum.

General Outlook for EUR/CHF
The EUR/CHF has resumed uptrend after testing the low of 1.0720. The previous uptrend was terminated at level 1.0800.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
$100 Min Deposit
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
Share with other traders!