EUR/CHF Price Analysis: Bulls attacks ascending triangle resistance beyond 1.0800

  • EUR/CHF seesaws near the weekly top amid inside a bearish chart pattern.
  • Bullish MACD suggests further advances to the formation resistance.
  • 200-bar EMA adds filters before pleasing the bears.

EUR/CHF trades near 1.0810 amid the early Friday. The quote surged to the weekly high, flashed Monday, during the previous day. However, repeated failures to defy the ascending triangle questions the quote’s further upside.

Currently, bullish MACD favors the pair to again confront 1.0840 resistance line, a break of which could escalate the recovery moves to June month’s top near 1.0915.

Should there be a clear run-up past-1.0915, buyers will not refrain from targeting 1.1000 psychological magnet.

Alternatively, 1.0785 can offer immediate support to the pair ahead of confirming the bearish pattern with a downside break below 1.0750.

Though, a 200-bar EMA level of 1.0730 acts as extra support to crack for the sellers before taking controls to aim mid-July bottom around 1.0650.

EUR/CHF four-hour chart

Trend: Pullback expected

 

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