EUR/CHF 1H Chart: Short-term advance expected

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralSellNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)SellBuyBuy
Aggregate

The EUR/CHF exchange rate has been extending gains since the beginning of April after it re-tested strong support level—the Fibonacci 0.20% retracement at 1.1195.  

Currently, the rate is testing the 100-hour SMA at the 1.1422 mark. Given that the currency pair is supported by the 200-hour SMA, it is likely that bulls prevail in the market in the short run. Important resistance level to look out for is the Fibonacci 38.20% retracement at 1.1504.  

If the given resistance holds, it is expected, that the pair reverses south. Otherwise, the rate could reach the Fibonacci 50.00% retracement at 1.1600.

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