EUR/CHF Short-Term Technical Outlook

Analysis

Currency Pair: EUR/CHF
Short-Term Bias: Short
Chart: 15 Min Charts

The EURCHF has moved lower throughout the month of September, and should continue its move to the downside in the near-term. After failing to break above 1.6000 last week, the euro-franc has lost 100+ points to hold near 1.5050.

The sharp downturn during the last few hours has triggered an oversold RSI signal, which could lead the pair to hold between 1.5827 (21.4% Fib level of 1.5750-1.6115) and 1.5932 (50.0% Fib level of 1.5750-1.6115) for the remainder of the day. However, the underlying downtrend should lead the pair lower over the rest of the week, and may test historical lows for support on its way to the downside.

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