EUR/CHF Is in a Downward Move but Will Reverse at Level 1.0794

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RESULTS

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
The pair has been in a sideways move but it is currently falling. Since January 8, the pair has been in a downward move after rejection from level 1.0850. The pair stands the chance of further downward move if the price breaks below the SMAs.

Daily Chart Indicators Reading:
The pair is at level 49 of the Relative Strength Index period 14. It implies that the market is in an uptrend zone. Also, it indicates that there is a balance between supply and demand. The 50-day SMA and 21-day SMA are sloping horizontally. It indicates a sideways trend.

EUR/CHF Medium-term Trend: Bearish
On the 4-hour chart, the index has resumed a downward move. On January 8 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the pair will fall and reverse at level 1.272 Fibonacci extension. That is the low of level 1.0794.

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

General Outlook for EUR/CHF
EUR/CHF is falling but the price movement is rather slow. A downward movement of the pair is expected. According to the Fibonacci tool, the current downtrend will reverse at level 1.0795. At this level, the market will move up.



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