EUR/CHF Price Analysis: Steps back from weekly channel resistance towards 1.0700


  • EUR/CHF eases after refreshing one-week high with 1.0741 level.
  • Pullback from immediate resistance highlights 200-HMA for sellers.
  • Bulls will have multiple upside barriers beyond the mentioned channel’s upper line.

EUR/CHF seesaws around 1.0740, following its run-up to the highest since October 14, during the pre-European trading on Thursday. The pair’s latest consolidation could be traced from its inability to defy the short-term rising channel.

While the current retracement can aim for a 200-HMA level of 1.0727, EUR/CHF sellers will be convinced only after the break of the stated channel’s support line, at 1.0714.

In that case, the 1.0700 round-figure holds the gate for the pair’s fall towards the monthly low of 1.0688.

On the contrary, an upside clearance of the channel resistance, currently around 1.0742, will have to cross the 50% Fibonacci retracement level of October 08-15 downside, near 1.0745, to aim for the mid-month high of 1.0750.

Also acting as the important hurdle for the USD/CHF bulls are the 61.8% Fibonacci retracement level of 1.0757 and the October 12 high close to 1.0775.

EUR/CHF hourly chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 1.0738
Today Daily Change 0.0001
Today Daily Change % 0.01%
Today daily open 1.0737
 
Trends
Daily SMA20 1.0764
Daily SMA50 1.077
Daily SMA100 1.0745
Daily SMA200 1.0678
 
Levels
Previous Daily High 1.074
Previous Daily Low 1.0711
Previous Weekly High 1.0774
Previous Weekly Low 1.0688
Previous Monthly High 1.0878
Previous Monthly Low 1.0727
Daily Fibonacci 38.2% 1.0729
Daily Fibonacci 61.8% 1.0722
Daily Pivot Point S1 1.0718
Daily Pivot Point S2 1.07
Daily Pivot Point S3 1.0689
Daily Pivot Point R1 1.0748
Daily Pivot Point R2 1.0758
Daily Pivot Point R3 1.0777

 

 

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