EURCHF Reaches Oversold Region at Level 1.0740

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

EUR/CHF Price Long-term Trend: Ranging
EUR/CHF is fluctuating between levels 1.0740 and 1.0840. The price has fallen to a lower price range. Each time price falls to the lower price range, it will consolidate and then resume upward. Buyers are likely to take control of prices. The pair will rise as it is range-bound.

Daily Chart Indicators Reading:
The pair is at level 52 of the Relative Strength Index period 14. It implies that the market has reached the uptrend zone and above the centerline 50. The 50-day SMA and 21-day SMA are sloping upward. It indicates the present trend.

EUR/CHF Medium-term Trend: Ranging
On the 4-hour chart, the pair is fluctuating between level 1.0740 and level 1.0840. The price has fallen above level 1.0740 and resumed consolidation. The price rebounded and later resumed consolidation. The upward move is likely.

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping sideways indicating the sideways trend. The pair is below 20% range of the daily stochastic. It indicates that the market is in the oversold region of the market. It also suggests that buyers will emerge in the oversold region.

General Outlook for EUR/CHF
EUR/CHF is in a sideways trend. The pair has fallen to the oversold region of the market. Traders are to initiate long orders in anticipation of the bullish trend.


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