Cross-rates signals: EUR/CHF is near significant resistance

The EUR/CHF cross, after a two-day move in flat, approached a significant resistance at the level of 1.1270-80, which corresponds to the upper boundary of the weekly descending channel. In conditions of maintaining the existing sentiment in the market, one should expect a repulsion from this resistance. This will open the way to support levels: 1.1200 and 1.1170-50. Fixing a pair above the resistance zone 1.1270-1.1300 will cast doubt on the downward dynamics and will serve as a signal for correction.

Read also: “Martingale Strategy  in the Forex market”

Hanzenko Anton

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