EUR/CHF Is Range-bound Between Levels 1.1000 And 1.1100, Up Trending 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 in a sideways move below level 1.1100. The currency pair has not been able to break above the resistance at level 1.1100. The pair has been trading marginally on the upside. Meanwhile, the Fibonacci tool has indicated an upward movement of the pair. On February 25 uptrend, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the pair will rise to level 1.618 Fibonacci extension or level 1.1286.

Daily Chart Indicators Reading:
EUR/CHF is at level 54 of the Relative Strength Index period 14. It implies that the pair is in the uptrend zone and has room to rally on the upside. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

EUR/CHF Medium-term Trend: Bullish
On the 4-hour chart, the market is in an upward move. The uptrend on April 26 reached the high of level 1.1070 but was repelled. The market is resuming a fresh uptrend. Meanwhile, on April 26 uptrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the pair will rise to level 2.618 Fibonacci extension or the high of 1.1161.

4-hour Chart Indicators Reading
The moving averages are sloping upward indicating the uptrend. The market is also above the 60% range of the daily stochastic. EUR/CHF is in a bullish momentum.

General Outlook for EUR/CHF
EUR/CHF pair is in a sideways move. The pair is in an uptrend to retest the resistance at level 1.1100. A break above the resistance will signal the resumption of the uptrend. Meanwhile, the pair has a target price of level 1.1161.


You can purchase crypto coins here: Buy Coins

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.