EUR/CHF Price Analysis: Steps back from 100-HMA as MACD flirts with bears


  • EUR/CHF eases from intraday high of 1.0726, rises for the second consecutive day.
  • MACD conditions, multiple upside barriers direct sellers to a two-day-old support line.

EUR/CHF drops to 1.0723 during Monday’s Asian session. Even so, the Euro pair manages to print 0.06% intraday gains while stepping back from the day’s high.

The pair’s latest declines could be cited as a U-turn from 100-HMA amid downbeat MACD histogram signals.

As a result, the quote is likely to extend the latest weakness towards testing an ascending trend line from Thursday, at 1.0718 now.

Though, a downside break of 1.0718 will not only challenge the 1.0700 threshold but will also direct the EUR/CHF bears towards the monthly low near 1.0685.

On the flip side, a falling trend line from last Wednesday, at 1.0730 now, follows the 100-HMA level of 1.0725 immediate resistance.

It’s worth mentioning that the 200-HMA level of 1.0750 and October 12 high near 1.0775 will lure the EUR/CHF buyers past-1.0725.

EUR/CHF hourly chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 1.0723
Today Daily Change 6 pips
Today Daily Change % 0.06%
Today daily open 1.0717
 
Trends
Daily SMA20 1.0771
Daily SMA50 1.0772
Daily SMA100 1.0745
Daily SMA200 1.0679
 
Levels
Previous Daily High 1.073
Previous Daily Low 1.0701
Previous Weekly High 1.0774
Previous Weekly Low 1.0688
Previous Monthly High 1.0878
Previous Monthly Low 1.0727
Daily Fibonacci 38.2% 1.0719
Daily Fibonacci 61.8% 1.0712
Daily Pivot Point S1 1.0702
Daily Pivot Point S2 1.0687
Daily Pivot Point S3 1.0673
Daily Pivot Point R1 1.0731
Daily Pivot Point R2 1.0745
Daily Pivot Point R3 1.076

 

 

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