EURCHF has remained trapped in a broad range since the beginning of the year. The price consistently hovered between the resistance level of 0.94290 and the support level of 0.92800. Recently, it broke below the 0.92800 support and slipped further toward the next demand zone, confirming intensified bearish momentum.
EURCHF price action has remained unimpressive since the end of Q2. The market has displayed choppy and indecisive behavior, indicating a lack of strong buying interest.
In August, the price retested the significant supply level of 0.94290. The Relative Strength Index (RSI) signalled an overbought condition, which triggered a structural shift and a subsequent decline. Moreover, the 9-period Moving Average confirms the dominance of sellers as it trails a series of strong bearish candles. The downward move extended beyond the 0.92800 support level, revisiting the major low formed in April.
EURCHF Short-term Trend: Bearish
On the 4-hour chart, the market structure remains clearly bearish. Both lower and higher timeframes show an oversold RSI, emphasising continuous selling pressure. Despite the oversold condition, no significant structural reversal has appeared yet. Consequently, the demand level at 0.92170 remains vulnerable to breaking. If this level fails to hold, the price may descend further toward 0.91500, reinforcing the overall bearish trend.
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EURCHF Short-term Trend: Bearish
