EUR/CHF Falls to Level 1.0750, an Upward Move Likely

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
EUR/CHF is still fluctuating between levels of 1.0740 and 1.0840. The pair fell sharply to the lower price level after testing level 1.0850. The price consolidates above level 1.0750 for subsequent upward move.

Daily Chart Indicators Reading:
The pair is at level 53 of the Relative Strength Index period 14. It implies that the market is in the uptrend zone and above the centerline 50. The 50-day SMA and 21-day SMA are sloping upward. It indicates the present uptrend.

EUR/CHF Medium-term Trend: Bearish
On the 4-hour chart, the pair is fluctuating between levels 1.0740 and 1.0840. The price has fallen above level 1.0740 and resumed consolidation. The price is presently fluctuating above level 1.0750. An upward move is likely.

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping sideways indicating the sideways trend. The pair is below the 25% range of the daily stochastic. It indicates that the market is in a bearish momentum. The market is approaching the oversold region of the market. Buyers are likely to emerge.

General Outlook for EUR/CHF
EUR/CHF is in a range-bound movement. The pair is falling and approaching the oversold region of the market. The price will move up after testing  lower level.


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