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EUR/CHF is recovering

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BUY 1.1205; TP1 1.1255; TP2 1.1300; SL 1.1190

At the end of March, EUR/CHF tested the lowest levels since the middle of 2017. The fact that the pair went below the support of the 2018 consolidation range (1.1180) and then returned back up was a bear trap. EUR/CHF managed to gather its strength and push higher. On H4 we can see that it returned above the 50-period MA (1.1200) which already acted as support. It looks like the pair has formed an interim bottom and will rise at least to 1.1240/55. The further target is at 1.1310.

EURCHF.png

FBS Analyst Team

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