EUR/CHF Price Analysis: Drops below 1.08, eyes Nov. 13 low
|- EUR/CHF's daily chart shows bull fatigue above 1.0820.
- The pair risk falling to support at 1.0774.
EUR/CHF is currently trading in the red at 1.0793, having clocked a high of 1.0807 during the early Asian trading hours.
The multiple daily candles with long upper wicks created in the past seven trading days suggest buyer fatigue above 1.0820 and scope for a pullback. The lower highs on the MACD histogram also indicate bullish exhaustion.
The pair risks falling to the Nov. 13 low of 1.0774. A violation there would expose the confluence of the 50- and 100-day simple moving averages at 1.0750.
The pair needs to close above 1.0828 (Nov. 16 high) to invalidate the bearish bias.
Daily chart
Trend: Bearish
Technical levels
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