- EUR/CHF is looking oversold, as per key daily chart indicator.
- The hourly chart is reporting a triangle breakout.
- A corrective bounce to the 5-day average hurdle could be in the offing.
EUR/CHF is looking to regain some poise from three-year lows reached on Wednesday.
The pair is currently trading at 1.0775, representing marginal gains on the day, having hit a low of 1.0742 yesterday. That was the lowest level since April 2017.
The bounce could be extended further, as the 14-day relative strength index (RSI) is hovering well below 30 for the first time since August 2018, indicating extreme oversold conditions.
Further, the hourly chart shows a descending triangle breakout and a bullish divergence of the relative strength index.
The pair could challenge the 5-day average hurdle at 1.0777.
Trend: Corrective bounce likely
|Today last price||1.0756|
|Today Daily Change||0.0008|
|Today Daily Change %||0.07|
|Today daily open||1.0748|
|Previous Daily High||1.0778|
|Previous Daily Low||1.0742|
|Previous Weekly High||1.0862|
|Previous Weekly Low||1.0782|
|Previous Monthly High||1.1044|
|Previous Monthly Low||1.0838|
|Daily Fibonacci 38.2%||1.0755|
|Daily Fibonacci 61.8%||1.0764|
|Daily Pivot Point S1||1.0734|
|Daily Pivot Point S2||1.072|
|Daily Pivot Point S3||1.0698|
|Daily Pivot Point R1||1.077|
|Daily Pivot Point R2||1.0792|
|Daily Pivot Point R3||1.0806|
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