EUR/CHF Is Falling After a Retest at Level 1.0750

EUR/CHF Is Falling After a Retest at Level 1.0750

Key Resistance Levels: 1.0800, 1.0900, 1.1000
Key Support Levels: 1.0600, 1.0500, 1.0400

EUR/CHF Price Long-term Trend: Bearish
EUR/CHF is in a downward move after the rejection at level 1.0800. The pair has fallen and broken below level 1.0750. It appears the downward move will continue as the price retest level 1.0750.

EUR/CHF – Daily Chart

Daily Chart Indicators Reading:
The pair is at level 39 of the Relative Strength Index period 14. EUR/CHF has fallen and it is approaching the oversold region of the market. The downward movement will continue as the price is below the centerline 50. The 50-day SMA and 21-day SMA are sloping horizontally. It indicates the sideways trend.

EUR/CHF Medium-term Trend: Ranging
On the 4-hour chart, the pair is now on a downward move. The pair retested level 1.0750 to continue the downward move. A retraced candle body tested the 78.6% Fibonacci retracement level. EUR/CHF will fall to level 1.272 Fibonacci extensions. That is level 1.0707.

EUR/CHF – 4 hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping downward indicating the downtrend. The current downward move is expected to reach level 1.0707.. It indicates that the market is in a bearish momentum.

General Outlook for EUR/CHF
EUR/CHF has resumed a downward move. The pair is falling after retesting the 1.0750 high. The current downward move is expected to reach level 1.0707.

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