The EURCHF pair is currently under sustained bearish pressure after facing a strong rejection at the 0.94450 resistance level. Since that rejection, sellers have firmly taken control, reversing the recent bullish attempt and steadily driving the price lower.
EURCHF Key Levels
Support Levels: 0.93420, 0.93070, 0.92590 Resistance Levels: 0.94450, 0.95070, 0.95820
EURCHF Long-Term Trend: Bearish
Over the past months, EURCHF has moved within a wide and volatile range. Recently, however, the market staged a rally that ultimately met resistance near 0.94450. As buyers failed to sustain momentum at this barrier, the pair turned sharply downward, reinforcing the dominance of sellers.
At present, the price trades near 0.93766, and importantly, it has slipped below the 20-period simple moving average, which also aligns with the middle Bollinger Band. This break adds further weight to the bearish outlook, as it clearly shifts the short-term trend in favor of sellers.
Moving forward, the logical downside target lies within the support zone between 0.93420 and 0.93070. In addition, indicators provide strong confirmation of this view. The Bollinger Bands are beginning to slope downward after the rejection at the upper band, while the Momentum indicator has dropped sharply below the zero line, reaching -0.00392. Together, these signals highlight the growing strength of bearish pressure in this market.
EURCHF Short-Term Trend: Bearish
Currently priced at 0.93768, EURCHF is displaying a clear pattern of lower highs and lower lows, which is the defining structure of a bearish trend. As the pair continues to trade in the lower half of the Bollinger Bands, the advantage remains firmly with the sellers. Any short-term bounce toward the middle band is therefore likely to be viewed by traders as an opportunity to align with the prevailing bearish momentum.
Trade on MT4 with Leverage up to 1:500! Trade on MT4 with Leverage up to 1:500!
X
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.