EUR/CHF Is an Upward Move and May Reverse at Level 1.0843

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 been in a sideways move between levels 1.0730 and 1.0850 since December. The EUR/CHF is in an upward move. The price has reached level 1.0830 resistance zone. A downward move is expected.

Daily Chart Indicators Reading:
The pair is at level 54 of the Relative Strength Index period 14. It implies that the market is in an uptrend zone. The 50-day SMA and 21-day SMA are sloping horizontally. It indicates a sideways trend.

EUR/CHF Medium-term Trend: Bullish
On the 4-hour chart, the index has resumed an upward move. The uptrend has reached bullish exhaustion. The price has reached an overbought region of the market. On January 6 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the pair will fall and reach level 1.272 Fibonacci extension. That is the high of level 1.0843.

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

General Outlook for EUR/CHF
EUR/CHF has been fluctuating between levels of 1.0730 and 1.0850. A downward movement of the pair is expected. According to the Fibonacci tool, the current upward move will reverse at level 1.0843.


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