Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
EUR/CHF reversed from support level 1.1250
- EUR/CHF reversed from support level 1.1250
- Next buy target - 1.1400
EUR/CHF recently reversed up sharply from the powerful support level 1.1250 (former major support level from August of 2017) – strengthened by the lower weekly Bollinger Band. The upward reversal from this support level stopped the previous intermediate impulse wave (C) from July. Given the oversold weekly Stochastic, EUR/CHF is expected to rise further toward the next buy target at the next resistance level 1.14000 (former major support from May).
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
Technical analysis of the USD/CAD
AUD/USD that has settled below the 100-day MA in the 0.6840 area. Learn more!
The earnings season in the United States is still on. This means that stocks of the largest American companies will likely make big moves.
This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.