Cross-rate signals: EUR/CHF is near significant support

The EUR/CHF cross-rate, after the last week’s high near the level of 1.1830, again rushed down to the lower border of the uptrend, which is at the level of 1.1720-00. This level has been a significant support since August of last year, which gives grounds for expecting further preservation of the uptrend and repulsion from this mark.

So, after breaking through support 1.1750-40, one should expect the pair to fall to the level of 1.1720-00. From this level a resumption of the growth with further update of global highs near the resistance levels is expected: 1.1830-50 and 1.1880. To confirm the entry signal to the purchase transaction, one must wait for confirmation in the form of a repulsion.

Fig. EUR/CHF. The current price is 1.1760.

Hanzenko Anton