• The cross came under some renewed selling pressure at the start of a new trading week and is currently placed at a short-term ascending trend-line support, extending from lows set on Jan. 8th.
• Technical indicators on the daily chart have been losing positive momentum and drifted into the negative territory on hourly charts, supporting prospects for an eventual bearish breakdown.
• The mentioned support coincides with 38.2% Fibonacci retracement level of the 1.1172-1.1444 upsurge and should act as a key trigger for the pair’s near-term trajectory in either direction.
• A sustained weakness below the 1.1330-25 region will confirm a near-term bearish breakdown and accelerate the fall towards challenging 50% Fibo. level support near the 1.1300 handle.
• On the flip side, a decisive strength beyond the 1.1365-70 region might negate the bearish outlook and prompt some short-covering move back towards reclaiming the 1.1400 round figure mark.
EUR/CHF 4-hourly chart
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EUR/CHF
Overview:
Today Last Price: 1.1342
Today Daily change %: -0.11%
Today Daily Open: 1.1354
Trends:
Daily SMA20: 1.1366
Daily SMA50: 1.1326
Daily SMA100: 1.1342
Daily SMA200: 1.1405
Levels:
Previous Daily High: 1.1372
Previous Daily Low: 1.1336
Previous Weekly High: 1.1396
Previous Weekly Low: 1.1329
Previous Monthly High: 1.1446
Previous Monthly Low: 1.1309
Daily Fibonacci 38.2%: 1.1349
Daily Fibonacci 61.8%: 1.1358
Daily Pivot Point S1: 1.1336
Daily Pivot Point S2: 1.1318
Daily Pivot Point S3: 1.13
Daily Pivot Point R1: 1.1372
Daily Pivot Point R2: 1.139
Daily Pivot Point R3: 1.1408
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