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

The cross-rate EUR/CHF from the beginning of the day has updated a maximum of two weeks at the level of 1.1975, and thus formed a reversal candle on the timeframe D1. Also at the level of 1.1960-70 there is an upper limit of the descending channel, which can be traced from the end of April.

Return of the cross in the established channel indicates the downward dynamics and the possibility of further reduction of the pair. So, fixing the cross below 1.1940 opens the way to the support levels: 1.1920-00 and 1.1880. The stop is located at the level of 1.1970-80.

Fig. EUR/CHF. Current price – 1.1940

Hanzenko Anton