EUR/CHF strongly bullish but close to make a pull back

EUR/CHF strongly bullish but close to make a pull back

EUR/CHF has been in a rally since November 13 session and now it’s targeting higher levels across the board. In the short-term, the pair is inside a strong supply zone at which could be offered in order to make an extended pull back. We can’t discard a leg higher towards the 1.1676 level, where is located the 161.8% Fibo level. To the downside, nearest support lies at the 200 SMA.

RSI indicator is in extreme overbought territory.




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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