EUR/CHF Price Analysis: Testing support at the 100-DMA, at 1.0610
|- EUR/CHF’s retreat from 1.0915 highs finds support at the 100-DMA at 1.0610.
- Upside attempts remain capped below the 50-day MA at 1.0637.
- Below 1.0610 next support levels are 1.0575 and long-term lows at 1.0505.
The euro is trading sideways on Friday, consolidating losses after a 2.5% sell-off in the last four weeks, that has sent the pair to test support at the 100-day moving average, now at 1.0610. The euro is attempting to pick up from session lows at 1.0618, but the move is lacking momentum amid a moderate risk-of sentiment and remains capped below the 50-day SMA, at 106.35.
On the upside, the euro should extend gains above the mentioned 50-day MA, at 1.0637 to gain some bullish strength and attempt to extend towards 1.0700/10 (June 23, 30 highs) and then June 16 high at 1.0770.
On the downside, the pair has found support at the 100-DMA at 1.0610. Below there, bears would gain confidence pushing the pair further south, aiming towards 1.0575 (May 20, 25 low) on the way to long-term lows at 1.0505 (May 14 low).
EUR/CHF daily chart
EUR/CHF key levels to watch
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