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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: Bullish
EUR/CHF is in an uptrend but the bulls are struggling to break level 1.1100. Since March 4, the pair has been in a sideways trend. On March 4 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the market will rise to level 2.0 Fibonacci level or the high of level 1.1347.
Daily Chart Indicators Reading:
The pair has fallen to level 60 of the Relative Strength Index period 14. It implies that the price is in the uptrend zone. The pair can rally on the upside. The 50-day SMA and 21-day SMA are sloping upward indicating an uptrend.
EUR/CHF Medium-term Trend: Ranging
On the 4-hour chart, the pair is in a sideways move. On March 15 downtrend; a retraced candle body tested the 88.6% Fibonacci retracement level. The retracement indicates that the price will fall to level 1.1129 Fibonacci extensions or the low of level 1.1049.
4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping horizontally indicating the downtrend. The pair has fallen to the oversold region. The price is below the 20% range of the daily stochastic. It indicates that the market is in a bearish momentum. Buyers are expected to emerge an oversold region.
General Outlook for EUR/CHF
EUR/CHF has fallen to the oversold region. Perhaps, buyers are likely emerging to push prices upward. The pair is facing resistance at level 1.1100. The uptrend will resume if a recent high is breached.
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