Thu, Jan 27, 2022 @ 14:04 GMT
HomeContributorsTechnical AnalysisEUR/CHF Back To 1-Month Low, EUR/JPY Continued Weakness, EUR/GBP Sharp Decline.

EUR/CHF Back To 1-Month Low, EUR/JPY Continued Weakness, EUR/GBP Sharp Decline.

EUR/CHF Back to 1-month low.

EUR/CHF’s is heading lower. The medium-term pattern suggests us to see continued bearish pressures towards key support that can be found at 1.0623 (24/06/2016 low). For now the support given at 1.0684 (06/03/20117 low) seems to be strong.

In the longer term, the technical structure is mixed. Resistance can be found at 1.1200 (04/02/2015 high). Yet,the ECB’s QE programme is likely to cause persistent selling pressures on the euro, which should weigh on EUR/CHF. Supports can be found at 1.0184 (28/01/2015 low) and 1.0082 (27/01/2015 low).

EUR/JPY Continued weakness.

EUR/JPY rejection at 122.88 has triggered a correction. The pair is also very volatile. Hourly support at 119.33 (23/03/2017 low) has been broken. Resistance stands at 122.88 (13/03/0217 high). The road is wide-open for further weakness.

In the longer term, the technical structure validates a medium-term succession of lower highs and lower lows. As a result, the resistance at 149.78 (08/12/2014 high) has likely marked the end of the rise that started in July 2012. Strong support at 94.12 (24/07/2012 low) looks nonetheless far away.

EUR/GBP Sharp decline.

EUR/GBP’s bullish flag finally ended up as a false flag. Strong resistance is given at 0.8787 (13/03/2017 high). Key resistance is given at 0.8854 (15/01/2017 high). Hourly support at 0.8605 (23/03/2017 low) has been broken. Expected to show continued weakness.

In the long-term, the pair has largely recovered from recent lows in 2015. The technical structure suggests a growing upside momentum. The pair is trading above from its 200 DMA. Strong resistance can be found at 0.9500 psychological level.

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