FX.co ★ milford.mante | EUR/CHF

Hello traders, yesterday's rise of the Swiss franc allowed sellers in the EURCHF currency pair to break out of the trading range (0.9110-0.9145) to the downside. Drawing conclusions at this point would be premature. Such movements often quickly reverse, but since the franc has been strengthening more than weakening lately, it is possible that the decline will continue. Yesterday, a bounce occurred from 0.9060, so we can expect a slight increase, reaching around 0.9100-0.9110, but only as a retracement for now. Approaching 0.9110, a bounce may occur leading to a resumption of the decline, with sellers targeting levels at 0.9080, 0.9065, 0.9035, and potentially down to 0.9000. If buyers manage to push the EURCHF price back above 0.9110, then the movement between the levels of 0.9110 and 0.9145 will become relevant again. A weak franc is needed for further upward targets, but it shows no signs of weakening, so there are still no prerequisites for opening buy orders.