EUR/CHF Fluctuates in a Tight Range, Targets to Break Resistance Level 1.0650

EUR/CHF Fluctuates in a Tight Range, Targets to Break Resistance Level 1.0650

Key Resistance Levels: 1.08000, 1.09000, 1.10000
Key Support Levels: 1.06000, 1.05000, 1.04000

EUR/CHF Price Long-term Trend: Ranging
The pair is currently in a tight range in July. It was earlier in a downward move as the market fell to a low of 1.06175. EUR/CHF has resumed a fresh uptrend and it is currently trading at 1.06431. The pair will continue its uptrend if it breaks above level 1.06500.

EUR/CHF – Daily Chart

Daily Chart Indicators Reading:
The pair is at level 47 of the Relative Strength Index period 14. it implies that the market is in the downtrend zone and below 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: Ranging
On the 4-hour chart, the EUR/CHF pair is range-bound between levels 1.065000 and 1.07000. The bears have earlier broken below the lower price range as bulls attempt to break above it. The price has reached a high of level 1.06434. The pair will trade in the price range if it breaks above level 1.065000.

EUR/CHF – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMA are sloping horizontally indicating the sideways move. The pair is above 40% range of the daily stochastic. It indicates that the market is in a bullish momentum. The pair is likely to rise.

General Outlook for EUR/CHF
The EUR/CHF pair is in a sideways move. It is rising to break above the range-bound zone. However, if buyers fail to push price above level 1.06500, the market will be in a sideways move.

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

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