EUR/CHF reveals resistance line

Note: This section contains information in English only.
Source: Dukascopy Bank SA


In the second half of March, the EUR/CHF currency exchange rate bounced off the 1.0350/1.0400 zone. By doing so, the pair also revealed a resistance line, which has guided the rate down since early February. On April 7, the pair had retreated, as it had once again returned to trade below the 2015 post-unpegging of the Swiss Franc from the Euro low level of 1.0235.

If the Euro continues to decline, compared to the Swiss Franc, the rate might look for support in the 1.0000 mark and the early March low level zone at 0.9970/0.9985. In addition, there is a trend line close by. The trend line connects the 2017 August and 2020 April low levels. The line crosses the 0.9900 mark and could act a support.

However, a recovery of the Euro against the Franc would face resistance in the resistance line near 1.0200/1.20500 and the 50-day simple moving average near 1.0300. Higher above, note the mentioned 1.0350/1.0400 zone.
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