EUR/CHF Rebounds as It Rallies to 1.0776 High, Further Upside 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: Bullish
The pair has fallen to the low at 1.0672 and rebounded. The price has broken through the previous resistance level. The rally reached the high of level 1.0776. The uptrend is likely to continue as price breaks above the SMAs.

Daily Chart Indicators Reading:
The pair is at level 61 of the Relative Strength Index period 14. It implies that the market is in an uptrend zone and above the centerline 50. The 50-day SMA and 21-day SMA are sloping horizontally. It indicates the sideways trend.

EUR/CHF Medium-term Trend: Bullish
On the 4-hour chart, the pair is also in an upward move. The pair rebounded above level 1.06850 to resume an upward move. On November 5 uptrend; a retraced candle body tested 38.2% Fibonacci retracement level. This means that the pair will rise and reverse at level 2.618 Fibonacci extensions. That is at a high of 1.0831.

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

General Outlook for EUR/CHF
EUR/CHF is above the current support level. The price rally has reached a high of level 1.0776. According to the Fibonacci tool, the market will rise and reached a level of 2.618 Fibonacci extensions. That is the high of 1.0831.


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