EURCHF Selling Moment Plunges to 1.00930 Key Level

Updated:

EURCHF Analysis- June 21

EURCHF Price selling moment plunges to 1.00930 key level. The bearish phase on the Swissy market has shown price banishment from the 1.05070 level, which was viewed as an important resistance zone. This crucial zone had been hit by buyers previously, thereby confirming a double top pattern. As bearish awareness was being created, more significant drops were experienced.

EURCHF Significant Levels

Resistance Levels: 1.05070, 1.03850
Support Levels: 1.02140, 1.00930

EURCHF Selling Moment Plunges to 1.00930 Key Level

EURCHF Long-Term Trend: Bearish

EURCHF market, for quite a while, the 1.05070 has been a strong resistance zone that buyers have failed to break through. As a result of the bullish failure and depletion of strength, a reversal became visible as sellers began to adapt the Swissy structure to follow a decline. A selling plunge is currently being witnessed after the value of EURCHF price began to decline following a sharp reversal from the 1.05070 critical level.

EURCHF strength is currently trading lower than the important mark of 1.02140. As the price value is still expected to fall, more selling pressure has been applied to the daily chart by the sellers. The key zone of 1.00930 is expected to be reached shortly. When the buying moment is over, and the stochastic is playing down near the oversold level, the bullish side may try to alter the price structure in the hopes of profiting from the situation.

EURCHF Selling Moment Plunges to 1.00930 Key Level

EURCHF Short-Term Trend: Bearish

The bearish arm has made a substantial decline down to the critical mark of 1.00930 on the 4-hour chart. Although a bearish trend is still prevalent in the market, the price is currently consolidating. As the momentum picks up, people should be ready for a possible second break below the important level of 1.00930.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.