EUR/CHF Consolidates Above Level 1.0760, May Resume Upward Move

EUR/CHF Consolidates Above Level 1.0760, May Resume Upward Move

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 sideways trend below 1.0850 resistance. The sideways trend has been ongoing since July. A bullish trend is drawn showing the support levels of the market. The prices are testing the trend line indicating an upward movement of the pair.

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 upward. It indicates the sideways trend.

EUR/CHF Medium-term Trend: Ranging
On the 4-hour chart, the pair is consolidating above level 1.0760. This has been the previous historical price level of August.The pair will resume an upward move after consolidation above the current support. EUR/CHF will resume uptrend if price breaks above the SMAs.

EUR/CHF – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping sideways indicating the previous trend. The pair is above the 30% 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 sideways move below level 1.0850. Buyers have not been able to push prices above the resistance at 1.0850. In the meantime, prices are likely to move up as they above level 1.0760



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