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

Cross EUR/CHF  approached the resistance level 1.1400-1.1370 near the border of the downward channel against the background of risk reduction and growth of the euro. An additional factor pointing to the turn is the maintenance of a downtrend.

The consolidation of the EUR/CHF pair below 1.1350-70 will indicate the resumption of the decline to the support levels: 1.1300 and 1.1250-70. The resistance is 1.1400, the consolidation above which will cancel expectations for a decline.

Read also: “Emerging markets and their prospects: Russian Ruble (RUB)”

Hanzenko Anton

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