Since the beginning of 2023, EurChf has been on a downward trend.
However, at the end of July, the pair found support just above 0.05, and after a month of consolidation and 4 touches of this support level, EurChf reversed to the upside and is trading now at 0.9680, exactly under an important confluence resistance.
Looking at the chart we can see that for a week now the pair has been pressing in this resistance and we could have an up break soon.
In such an instance, EurChf could rise further and the 0.9830-0.9850 zone.
However, at the end of July, the pair found support just above 0.05, and after a month of consolidation and 4 touches of this support level, EurChf reversed to the upside and is trading now at 0.9680, exactly under an important confluence resistance.
Looking at the chart we can see that for a week now the pair has been pressing in this resistance and we could have an up break soon.
In such an instance, EurChf could rise further and the 0.9830-0.9850 zone.
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