EUR/CHF Price Analysis: Extends bounce off 200-HMA to refresh intraday top above 1.0800


  • EUR/CHF picks up the bids after snapping two-day winning streak the previous day.
  • MACD again turns bullish, suggesting further recovery.
  • Two-week-old ascending trend line adds to the downside support.

EUR/CHF rises to 1.0813 during the pre-European session on Wednesday. The pair recently gained upside momentum as 200-HMA beat bears. The pair dropped from the one-week top the previous day amid failures to cross a short-term resistance line and a broad risk-off mood.

Considering the return of bullish MACD return, together with the latest pullback, the pair is likely to remain positive and challenge the weekly top near 1.0850.

Though, an ascending trend line from September 02, at 1.0857 now, may restrict the quote’s further advances towards the monthly top of 1.0877.

If at all the risk-off mood recall the sellers and break the 200-HMA level of 1.0797, an upward sloping support line from August 27, currently around 1.0786, will be the key to watch.

During the quote’s downside past-1.0797, the previous month’s bottom close to 1.0720 can offer an intermediate halt before reprinting the 1.0700 threshold on the chart.

EUR/CHF hourly chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price 1.0813
Today Daily Change 4 pips
Today Daily Change % 0.04%
Today daily open 1.0809
 
Trends
Daily SMA20 1.0777
Daily SMA50 1.0745
Daily SMA100 1.0689
Daily SMA200 1.0696
 
Levels
Previous Daily High 1.0847
Previous Daily Low 1.0798
Previous Weekly High 1.0878
Previous Weekly Low 1.0747
Previous Monthly High 1.085
Previous Monthly Low 1.0722
Daily Fibonacci 38.2% 1.0816
Daily Fibonacci 61.8% 1.0828
Daily Pivot Point S1 1.0789
Daily Pivot Point S2 1.0769
Daily Pivot Point S3 1.074
Daily Pivot Point R1 1.0838
Daily Pivot Point R2 1.0867
Daily Pivot Point R3 1.0887

 

 

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