EUR/CHF Is Ranged-Bound, a Breakout Likely at Level 1.07000 `

EUR/CHF Is Ranged-Bound, a Breakout Likely at Level 1.07000 `

Key Resistance Levels: 1.09000, 1.10000, 1.11000
Key Support Levels: 1.05400, 1.05200, 1.05000

EUR/CHF Price Long-term Trend: Bullish
EUR/CHF pair is presently is in a sideways move between level 1.06400 and 1.07000. The price has fallen to the lower price range and an upward move is expected. The upward move is expected at a high of  1.07000.

EUR/CHF – Daily Chart

Daily Chart Indicators Reading:
EUR/CHF has fallen to level 46 of the Relative Strength index period 14. The pair is now in the downtrend zone and above the centerline 50. The 50-day SMA and 21-day SMA are sloping downward which indicates the previous trend.

EUR/CHF Medium-term Trend: Bearish
On the 4-hour chart, the EUR/CHF pair is in a descending channel. The downtrend was earlier making a series of lower lows and lower highs. The price has fallen to the lower lows and it is making an upward move.

EUR/CHF – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMA are sloping downward. It indicates the previous downtrend. In the meantime, the pair has fallen to the oversold suggesting buyers take control of price. It is above 25 % range of the daily stochastic. The pair is now in a bullish momentum.

General Outlook for EUR/CHF
EUR/CHF pair has been fluctuating between 1.06400 and 1.07000. The price is in the lower range is rising. The buyers are emerging as price was earlier in an oversold region.


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