EUR/CHF Is Stuck Between Levels 1.0720 and 1.0850

EUR/CHF Is Stuck Between Levels 1.0720 and 1.0850

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 still fluctuating between levels of 1.0720 and 1.0850. The pair fell sharply to the lower price level after testing level 1.0850. Since July, the key levels of the market are yet to be broken.

EUR/CHF – Daily Chart

Daily Chart Indicators Reading:
The pair is at level 56 of the Relative Strength Index period 14. It implies that the market is in the 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: Ranging
On the 4-hour chart, the pair is likely to make a brief uptrend. However, the pair will reverse later. The retraced candle tested 78.6% Fibonacci extension level. The pair will rise and reverse at level 1.272 Fibonacci extension level.

EUR/CHF – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping sideways indicating the sideways trend. The pair is below the 80% range of the daily stochastic. It indicates that the market is in a bearish momentum. The market is approaching the overbought region of the market. Sellers are likely to emerge.

General Outlook for EUR/CHF
EUR/CHF is in a range-bound movement. The pair is likely to make a brief uptrend before resuming a downward move. Presently, the coin is in a sideways move in a confined range.


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