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

Estimated Reading Time: 2 minutes

Azeez Mustapha

Updated:

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.


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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