FX.co ★ EUR/CHF: upside seems over

EUR/CHF 0.9619 Key Downside Obstacle!

The currency pair is moving somehow sideways in the short term and is trading at 0.9644 at the time of writing. As you can see on the H4 chart, the rate failed to reach the 0.9685 historical level (higher high), indicating exhausted buyers (overbought).

The rate dropped below the uptrend line signaling that the uptrend ended and that the sellers could drag it down again. Technically, 0.9619 represents a static downside obstacle.

EUR/CHF Forecast!

Dropping below 0.9619 activates a deeper drop and is seen as a new selling opportunity.