EUR/CHF Is Consolidating in a Tight Range, Uptrend Unlikely

EUR/CHF Is Consolidating in a Tight Range, Uptrend Unlikely

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 trading between levels of 1.0700 and 1.0800. Price is fluctuating in the middle of price range. The pair is falling and approaching the lower price range. The price action is characterized by small body candlesticks.

EUR/CHF – Daily chart

Daily Chart Indicators Reading:
The pair is at level 51 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 sideways. It indicates the present sideways trend.

EUR/CHF Medium-term Trend: Ranging
On the 4-hour chart, the pair is range-bound between level 1.0720 and level 1.0800. Today, price is falling toward the lower price range. The fluctuation is likely to terminate in the middle of price range. The pair is in choppy price action.

EURCHF – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping sideways indicating the sideways trend. The pair is below 40% range of the daily stochastic. It indicates that the market is in a bullish momentum.

General Outlook for EUR/CHF
The EUR/CHF is range-bound within the confined levels. The market is in a choppy price action. The price is consolidating in the middle of price range. The key levels are yet to be broken.



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