EUR/CHF looking to test the next Fibo target in the upside

EUR/CHF looking to test the next Fibo target in the upside

EUR/CHF is currently trading above the 200 SMA at H1 chart and remains supported by the Fibonacci level of 50% at 1.1561. That area could provide a pivot for the pair in order to reach new highs across the board. If that happen, further gains are expected towards the first Fibonacci target of -23.6% at 1.1763. The invalidation point for the pair lies at 1.1530, at which a breakout should strengthen the bearish bias.

RSI indicator is entering the neutral territory, calling for sideways.

EURCHFmH1.png

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