EUR/CHF Makes Downward Move, Lacks Buying at Higher Levels

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

EUR/CHF Price Long-term Trend: Bearish
EUR/CHF pair is in an uptrend. The uptrend has been terminated as the market drops to level 1.06559. A correction candle body is testing the 0.618 Fibonacci retracement level. It indicates that the market will reach a low of 1.618 extension level. Later the price action will continue.

Daily Chart Indicators Reading:
EUR/CHF has fallen to level 53 of the Relative Strength index period 14. The pair is now in the uptrend zone and above the centerline 50. The 50-day SMA and 21-day SMA are sloping upward which indicates the previous trend.


EUR/CHF Medium-term Trend: Bearish
On the 4-hour chart, the EUR/CHF pair is in a downtrend. The Fibonacci tool measures the extent of the downward move. The currency pair is falling and will reach  level 1.618 Fibonacci extension level. In other words, the market will reach a low of level 1.05715.

4-hour Chart Indicators Reading
The 50-day and 21-day SMA are sloping downward .It indicates the downtrend. The pair is below 40% range of the daily stochastic. The currency pair is in a bearish momentum.

General Outlook for EUR/CHF
EUR/CHF pair is now in a downward move. EUR/CHF is falling and may reach the low of level 1.618 Fibonacci extension level. In other words, EUR/CHF may reach level 1.05696.


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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