Detailed FX Market Outlook and Analysis

EUR/CHF Consolidation Trajectory Likely to Turn Bearish

eurchf analysis

EUR/CHF Analysis

EUR/CHF continues its consolidation from the high of 2022 at 0.9402, maintaining a neutral intraday bias. Anticipating a deeper decline, the resistance at 0.9543 remains intact. A decisive breach of 0.9407 on the downside will affirm the resumption of the larger downtrend. The subsequent target is set at 61.8%, projecting from 0.9995 to 0.9416 from 0.9683, positioning at 0.9325. Conversely, a sustained break of 0.9543 would instigate a renewed rally towards the 0.9683 resistance.

In the broader perspective, the medium-term outlook sustains its bearish stance, contingent upon the unyielding nature of the 0.9683 resistance. A robust break of 0.9407, the 2022 low, signals the revival of the long-term downtrend. The subsequent target aligns with the 61.8% projection from the 2020 high of 1.1149 to 0.9407 from 1.0095, situated at 0.9018.

Analysis Summary

EUR/CHF demonstrates a neutral intraday bias amid ongoing consolidation from the 2022 high of 0.9402. A potential deeper decline awaits confirmation through the breach of 0.9407, marking the resumption of a larger downtrend. The medium-term outlook remains bearish, with 0.9683 resistance pivotal to sustaining this trend.

Key Points

  • Intraday bias is neutral; consolidation persists from 0.9402.
  • Confirmation of a larger downtrend requires a firm break of 0.9407.
  • The medium-term outlook remains bearish; 0.9683 resistance is crucial.

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