EUR/CHF Price Analysis: Bulls attacks ascending triangle resistance beyond 1.0800

EUR/CHF seesaws near the weekly top amid inside a bearish chart pattern.
Bullish MACD suggests further advances to the formation resistance.
200-bar EMA adds filters before pleasing the bears.

Anil Panchal FXStreet

EUR/CHF trades near 1.0810 amid the early Friday. The quote surged to the weekly high, flashed Monday, during the previous day. However, repeated failures to defy the ascending triangle questions the quote’s further upside.

Currently, bullish MACD favors the pair to again confront 1.0840 resistance line, a break of which could escalate the recovery moves to June month’s top near 1.0915.

Should there be a clear run-up past-1.0915, buyers will not refrain from targeting 1.1000 psychological magnet.

Alternatively, 1.0785 can offer immediate support to the pair ahead of confirming the bearish pattern with a downside break below 1.0750.

Though, a 200-bar EMA level of 1.0730 acts as extra support to crack for the sellers before taking controls to aim mid-July bottom around 1.0650.

EUR/CHF four-hour chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	1.0809
Today Daily Change	4 pips
Today Daily Change %	0.04%
Today daily open	1.0805

Trends
Daily SMA20	1.0751
Daily SMA50	1.0717
Daily SMA100	1.064
Daily SMA200	1.0719

Levels
Previous Daily High	1.0822
Previous Daily Low	1.0752
Previous Weekly High	1.0838
Previous Weekly Low	1.0725
Previous Monthly High	1.0838
Previous Monthly Low	1.0606
Daily Fibonacci 38.2%	1.0795
Daily Fibonacci 61.8%	1.0779
Daily Pivot Point S1	1.0764
Daily Pivot Point S2	1.0724
Daily Pivot Point S3	1.0695
Daily Pivot Point R1	1.0834
Daily Pivot Point R2	1.0863
Daily Pivot Point R3	1.0904

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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