EUR/CHF Is in a Downward Move but Fluctuates Between Levels 1.0820 and 1.0860

Azeez Mustapha
2 December 2020 | Updated: 2 December 2020

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 risen to level 1.0822 and it is facing resistance at the recent high. The bullish trend has been exhausted as the pair faces rejection at level 1.08600. The pair is yet to trend as it fluctuates between levels 1.0820 and 1.08600.

EUR/CHF – Daily Chart

Daily Chart Indicators Reading:
The pair is at level 59 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: Bearish
On the 4-hour chart, the index has resumed a downward move. The candlesticks of today are showing long wicks which indicate there is strong selling pressure at higher levels. On December 2 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. It indicates that the pair will reach level 1.618 Fibonacci extensions or the high of level 1.0774.

EUR/CHF – 1 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping upward indicating the uptrend. The pair is above the 25% range of the daily stochastic. It indicates that the pair is in a bullish momentum and it is trading in the oversold region.

General Outlook for EUR/CHF
EUR/CHF has reached bullish exhaustion as it faces rejection at level 1.0860. The price is now fluctuating between levels 1.0820 and 1.0860. The pair is currently rising.


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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Azeez Mustapha

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.