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EUR/CHF firms with outlook neutral as 0.9265 holds support

A break above 0.9348 could extend the pair’s larger rally, while losing 0.9265 would signal a move toward the 55-day EMA near 0.9230.

Reported · Written up by our desk · Major Pairs

EUR/CHF rose to 0.9348 last week, but subsequently traded sideways, according to Action Forex. The outlet said the near-term bias is neutral, with consolidation expected as long as 0.9265, identified as resistance turned support, remains intact.

Action Forex expects further upside if 0.9265 holds, and it said a break above 0.9348 would extend a larger rally stemming from 0.8979. In that case, the outlook points to a move toward the 100% projection of the 0.8979 to 0.9264 range, calculated from 0.9094 at 0.9379.

On the downside, Action Forex warned that a firm break of 0.9265 would indicate a deeper correction, with attention shifting to the 55-day EMA around 0.9230. The analysis also noted that the outlook stays bearish on the long-term view while 0.9407, now resistance after being support, holds.

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