Key Resistance Levels: 1.0800, 1.0900, 1.1000
Key Support Levels: 1.0600, 1.0500, 1.0400
EUR/CHF Price Long-term Trend: Bearish
The pair is currently falling but the selling pressure has been exhausted. A green correction candle body tested the 0.786 retracement level. It indicates that the pair is going to fall and reach the low of level 1.272 extension level. In most cases, the price will reverse at this level but the reversal will not be immediate. It will return to the 0.786 retracement level.
Daily Chart Indicators Reading:
The pair is at level 45 of the Relative Strength Index period 14. it implies that the market is in the downtrend zone and below the centerline 50. The 50-day SMA and 21-day SMA are sloping upward. It indicates the present upward move.
EUR/CHF Medium-term Trend: Ranging
On the 4-hour chart, the pair is fluctuating between level 1.0620 and 1.0700. The market has reached a lower price and buyers have already emerged. The pair will rise and probably will reach a high of level 1.0665.
4-hour Chart Indicators Reading
The 50-day and 21-day SMA are sloping horizontally indicating the sideways move. The pair is below 20% range of the daily stochastic. It indicates that the market is in the oversold region. Buyers expected to emerge in the oversold region.
General Outlook for EUR/CHF
The EUR/CHF has exhausted its selling pressure. The pair reached the oversold region of the market as buyers emerged to push prices upward.
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