EUR/CHF Price Analysis: Repeated rejection at 1.0850 is cause for concern for the bulls

  • EUR/CHF's weekly chart shows bull failure at 1.0850. 
  • The immediate bias remains neutral despite descending trendline breakout.

EUR/CHF is trading below 1.08 during Thursday's Asian trading hours. 

The long upper wick attached to the weekly candle shows rejection near 1.0850. The area around that level has capped upside multiple times since the last week of July. As such, the immediate bias will remain neutral as long as the pair is held below 1.0850.

A weekly close above 1.0850 would validate the upside break of a two-year-long descending trendline and open the doors for resistance at 1.1059 (October 2019 high). 

On the downside, 1.07 is the level to beat for the bears. 

Weekly chart

Trend: Neutral

Technical levels


Today last price 1.0792
Today Daily Change -0.0003
Today Daily Change % -0.03
Today daily open 1.0795
Daily SMA20 1.077
Daily SMA50 1.0733
Daily SMA100 1.0677
Daily SMA200 1.07
Previous Daily High 1.0852
Previous Daily Low 1.0775
Previous Weekly High 1.0775
Previous Weekly Low 1.0722
Previous Monthly High 1.085
Previous Monthly Low 1.0722
Daily Fibonacci 38.2% 1.0804
Daily Fibonacci 61.8% 1.0822
Daily Pivot Point S1 1.0763
Daily Pivot Point S2 1.073
Daily Pivot Point S3 1.0686
Daily Pivot Point R1 1.084
Daily Pivot Point R2 1.0884
Daily Pivot Point R3 1.0917



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