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EUR/CHF Bounces Off Trendline Support to Trade Above 0.9820

From fxdailyreport.com

The EUR/CHF currency pair on Tuesday bounced off the trendline support at about 0.9756 to trade at about 0.9820. The currency pair continues to trade within an ascending channel formation in the 60-min chart. The currency pair is still a few levels below the 100-hour moving average line. However, Tuesday’s rebound appears to have pushed the currency pair closer to the overbought levels of the 14-hour RSI. From a fundamental perspective, the EUR/CHF currency pair is trading ahead of a relatively busy period in the EU market. The European Central Bank (ECB) is expected to issue its latest interest rate update on ... (full story)

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  • Category: Technical Analysis