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.

Omkar Godbole FXStreet Contributor

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

EUR/CHF

Overview
Today last price	1.0793
Today Daily Change	-0.0011
Today Daily Change %	-0.10
Today daily open	1.0804

Trends
Daily SMA20	1.0742
Daily SMA50	1.0756
Daily SMA100	1.0752
Daily SMA200	1.0682

Levels
Previous Daily High	1.0825
Previous Daily Low	1.079
Previous Weekly High	1.0824
Previous Weekly Low	1.0679
Previous Monthly High	1.0806
Previous Monthly Low	1.0672
Daily Fibonacci 38.2%	1.0803
Daily Fibonacci 61.8%	1.0812
Daily Pivot Point S1	1.0787
Daily Pivot Point S2	1.0771
Daily Pivot Point S3	1.0752
Daily Pivot Point R1	1.0822
Daily Pivot Point R2	1.0841
Daily Pivot Point R3	1.0857

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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