EUR/CHF 1H Chart: Bears could continue to prevail

Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellBuyNeutral
SAR(0.02;0.2)SellSellBuy
Aggregate

The EUR/CHF currency pair has been trading downwards since the beginning of June, guided by a descending trend line.  

Note that the exchange rate is pressured by the 55-, 100– and 200-hour SMAs in the 1.0700/1.07400 area. Thus, some downside potential could continue to prevail in the market. In this case the rate could target the psychological level at 1.0500. 

Meanwhile, note that the currency pair could gain support from the monthly PP at 1.0637. If the given support holds, it is likely that a reversal north could occur, and the pair could raise to the Fibo 23.60% at 1.0861.

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