EUR/CHF Price Analysis: Treads water around 1.0800 inside a two-week-old rising channel

EUR/CHF struggles to keep bounces off 1.0780/75 support confluence.
100 and 20-bar SMAs join the support line of short-term ascending trend channel to bar the bears’ entries.
Multiple highs below the 1.0900 threshold challenge bulls.
Bearish MACD, normal RSI suggest a continuation of the sluggish moves.

Anil Panchal FXStreet

EUR/CHF seesaws around 1.0800 during the pre-European trading on Thursday. The pair pulled back from a joint of 100 and 200-bar SMA, as well as a support line of an upward sloping trend channel from September 17. However, failures to stay strong beyond 1.0800 keep the sellers hopeful.

Even so, the pair’s sustained trading below 1.0780/75 key support area becomes necessary for the bears to take entries.

Following that, 1.0745 and the September month’s low surrounding 1.0725 can lure the EUR/CHF sellers.

On the flip side, 1.0820 and a falling trend line from September 08, near 1.0830, can probe the buyers ahead of highlighting the mentioned channel’s resistance, at 1.0843 now.

During the quote’s further upside past-1.0843, September month’s high close to 1.0880, followed by the 1.09000 round-figure, may attract EUR/CHF bids.

EUR/CHF four-hour chart

Trend: Sideways

Additional important levels

Overview
Today last price	1.0796
Today Daily Change	3 pips
Today Daily Change %	0.03%
Today daily open	1.0793

Trends
Daily SMA20	1.0783
Daily SMA50	1.0774
Daily SMA100	1.0727
Daily SMA200	1.0684

Levels
Previous Daily High	1.0817
Previous Daily Low	1.0763
Previous Weekly High	1.0821
Previous Weekly Low	1.074
Previous Monthly High	1.0878
Previous Monthly Low	1.0727
Daily Fibonacci 38.2%	1.0783
Daily Fibonacci 61.8%	1.0796
Daily Pivot Point S1	1.0765
Daily Pivot Point S2	1.0737
Daily Pivot Point S3	1.0711
Daily Pivot Point R1	1.0819
Daily Pivot Point R2	1.0845
Daily Pivot Point R3	1.0873

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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