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 in a range-bound movement. The pair is now in an upward move from the low of 1.0688. The market has reached bearish exhaustion. The pair will revisit the previous range bound zone.
Daily Chart Indicators Reading:
The pair is at level 40 of the Relative Strength Index period 14. It implies that the market is in the sideways movement and 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: Bearish
On the 4-hour chart, the pair is earlier in a downward move. The market has breached bearish exhaustion. On October 15, a retraced candle body tested the 78.6% Fibonacci retracement level. It indicates that the pair will fall to level 1.272 and reverse.
4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping sideways indicating the previous trend. The pair is above the 75% range of the daily stochastic. It indicates that the market is in a bullish momentum.
General Outlook for EUR/CHF
EUR/CHF is in a downward move and has reached bearish exhaustion. The market has fallen to level 1.272 Fibonacci extensions. In other words, the market has fallen tot level 1.0677. The pair is like to reverse at this point.
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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