EUR/CHF Uptrend Terminates at Level 1.0800, Resumes Sideways Move

EUR/CHF Uptrend Terminates at Level 1.0800, Resumes Sideways 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
The pair in an upward move but was resisted at level 1.0800. The price retraced to level 1.0716 and resumed a sideways move. The pair is fluctuating below the resistance at level 1.0800. For the past week, the pair has not been trending.

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 has reached the uptrend zone and above the centerline 50. The 50-day SMA and 21-day SMA are sloping upward. It indicates the previous upward move.

EUR/CHF Medium-term Trend: Ranging
On the 4-hour chart, the pair is fluctuating between level 1.0720 and level 1.0800. The pair will have a downward move if price breaks below level 1.0720. A downward move to the low of level 1.0600 is expected if the downtrend is resumed.

EUR/CHF – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMA are sloping upward indicating the uptrend. The pair is above 50% range of the daily stochastic. It indicates that the market is in a bullish momentum.


General Outlook for EUR/CHF
The EUR/CHF is currently in a sideways trend. The pair is currently fluctuating between levels 1.0720 and 1.0800. The market is no longer trending as price remains range-bound


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