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

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

2019-11-11 • Updated

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.

EURCHFmH1.png

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