Cross-rate signals: EUR/CHF maintains a downtrend

After a small recovery in the stock markets at the beginning of the week, the negative sentiment remains on the market, which affects the pair EUR/CHF by maintaining a downtrend. So, after a three-day correction, the pair EUR/CHF approached a significant level of resistance 1.1550-60, which corresponds to the upper limit of the descending channel.

In the face of continuing risks on the stock exchanges from the EUR/CHF pair, one should expect a resumption of the decline from the level of 1.1550, which is also in line with the Fibo level. 23.6 from the low of 2017. When forming a reversal, one should expect the pair to fall to support levels: 1.1450 and 1.1400-1.1370. Fixing a pair above 1.1550 will cancel the scenario for reinforcement and indicate the formation of correction.

Fig. EUR/CHF H4. The current price is 1.1530.

Hanzenko Anton