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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. 

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 price1.1032
Today Daily Change0.0025
Today Daily Change %0.23
Today daily open1.1007
 
Trends
Daily SMA201.0966
Daily SMA501.0925
Daily SMA1001.0992
Daily SMA2001.1155
 
Levels
Previous Daily High1.1032
Previous Daily Low1.1007
Previous Weekly High1.1042
Previous Weekly Low1.0982
Previous Monthly High1.102
Previous Monthly Low1.081
Daily Fibonacci 38.2%1.1017
Daily Fibonacci 61.8%1.1023
Daily Pivot Point S11.0999
Daily Pivot Point S21.0991
Daily Pivot Point S31.0974
Daily Pivot Point R11.1024
Daily Pivot Point R21.1041
Daily Pivot Point R31.1049


 

Author

Omkar Godbole

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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