EURCHF INTRADAY capped by 0.9430The pair is in a bearish trend, with recent price action showing a bounce (oversold rally) that was rejected near 0.9430, a key resistance level from previous consolidation.
This rejection suggests sellers are still in control.
Key Levels to Watch:
Resistance: 0.9430 (key level), then 0.9500 and 0.9600 if broken.
Support: 0.9155, followed by 0.9100 and 0.9050.
Trading Outlook:
Bearish scenario: If price fails to break above 0.9430, expect a move lower toward 0.9300, with extended downside to 0.9200 and 0.9130 over time.
Bullish scenario: A daily close above 0.9430 would invalidate the bearish view and could lead to a move toward 0.9500 and possibly 0.9600.
Conclusion: EUR/CHF remains bearish unless price breaks and holds above 0.9430. Traders may look for short opportunities below resistance or switch to a bullish bias on a confirmed breakout.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
