- 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.
|Today last price||1.0792|
|Today Daily Change||-0.0003|
|Today Daily Change %||-0.03|
|Today daily open||1.0795|
|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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