EURCHF--2.5-month rising trend-line underpins further upside
EURCHF 1.0943 bullish — 2.5-month rising trend-line underpins further upside
EURCHF rallied to a new multi-month high at 1.1049 (September 7, 2015) before consolidating. While the 2.5-month rising trend-line underpins, watch for further resumed strength through 1.1049 to challenge 1.1095 (61.8% of the 1.2016/.9650 sharp fall in January 2015). Above there would firm for 1.1437 (76.4% of the 1.2016/.9650 sharp fall in January 2015). However, a deeper pullback to break below the 1.0826 area (September 7, 2015 weekly low) would caution bulls and risk further weakness towards 1.0711 (August 17, 2015 range low).
Outlook:
Intraday:neutral
Daily:bullish
Weekly: bullish
EURCHF rallied to a new multi-month high at 1.1049 (September 7, 2015) before consolidating. While the 2.5-month rising trend-line underpins, watch for further resumed strength through 1.1049 to challenge 1.1095 (61.8% of the 1.2016/.9650 sharp fall in January 2015). Above there would firm for 1.1437 (76.4% of the 1.2016/.9650 sharp fall in January 2015). However, a deeper pullback to break below the 1.0826 area (September 7, 2015 weekly low) would caution bulls and risk further weakness towards 1.0711 (August 17, 2015 range low).
Outlook:
Intraday:neutral
Daily:bullish
Weekly: bullish
