EUR/CHF technical analysis: Bounces up from key support, eyes Oct. 17 high

EUR/CHF is looking north, having bounced up from key MA support.
The 4-hour chart indicators are also reporting bullish conditions.

Omkar Godbole FXStreet Contributor

EUR/CHF is better bid at 1.1030 press time and could challenge the Oct. 17 high of 1.1059 in the next 24 hours.

The 4-hour chart shows, the currency pair has bounced up from the 50-period moving average (MA). That ascending (bullish) technical line has emerged as strong support in the last eight days.

The strong bounce from the key MA support is backed by an above-50 reading on the relative strength index.

As a result, further gains could be seen, possibly toward 1.1059, as said earlier.

The bullish case would be invalidated if the spot finds acceptance below the 4-hour chart 50-candle MA, currently at 1.1008.

4-hour chart

Trend: Bullish

Technical levels

EUR/CHF

Overview
Today last price	1.1032
Today Daily Change	0.0025
Today Daily Change %	0.23
Today daily open	1.1007

Trends
Daily SMA20	1.0966
Daily SMA50	1.0925
Daily SMA100	1.0992
Daily SMA200	1.1155

Levels
Previous Daily High	1.1032
Previous Daily Low	1.1007
Previous Weekly High	1.1042
Previous Weekly Low	1.0982
Previous Monthly High	1.102
Previous Monthly Low	1.081
Daily Fibonacci 38.2%	1.1017
Daily Fibonacci 61.8%	1.1023
Daily Pivot Point S1	1.0999
Daily Pivot Point S2	1.0991
Daily Pivot Point S3	1.0974
Daily Pivot Point R1	1.1024
Daily Pivot Point R2	1.1041
Daily Pivot Point R3	1.1049

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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