FX.co ★ milford.mante | EUR/CHF

EUR/CHF H4 Timeframe

Based on the EUR/CHF H4 timeframe chart, the technical condition shows that this pair is still in a bullish trend even though in the last few sessions it has undergone a correction after printing a new high. The price action structure is still dominated by a series of higher highs and higher lows, indicating that buying pressure remains the main force in the market. The correction that occurred after price touched the peak area has not changed the overall trend structure because price is still moving above the 100-period Moving Average (MA 100) and is quite far above the 200-period Moving Average (MA 200). As long as both indicators maintain a positive slope, the medium-term outlook still tends to favor the bullish side. The 100-period Moving Average, shown with a blue line, is currently below price and still sloping upward. This position indicates that the medium-term upside momentum is still intact despite having experienced fairly sharp selling pressure. On several occasions, price has pulled back toward the MA 100 before once again finding support from buyers. This shows that the MA 100 is currently acting as an effective dynamic support. Meanwhile, the 200-period Moving Average, shown with a red line, is positioned lower and is also sloping upward. The fairly wide distance between price and the MA 200 reflects that the uptrend that has been in place since early July still has a solid foundation, so the current correction is better viewed as a normal phase within a bullish trend rather than the start of a reversal. On the horizontal resistance side, the first area to watch is around 0,9326. This level previously acted as a rejection point before finally being broken by buyers at the end of July. It has now turned into a minor support area as well as an important level that will determine whether bullish momentum can still be maintained. As long as price holds above 0,9326, the opportunity to resume the move higher toward the next resistance remains open. The next key resistance is around 0,9348, which is the latest swing high on the chart. This area is a major resistance because it previously triggered fairly aggressive profit-taking that resulted in a sharp correction. A break above this level would be a very positive signal for buyers because it would create a new higher high and reinforce the continuation of the uptrend. If a breakout occurs supported by strong bullish candlesticks, the upside potential will open further, although the next target would need to be determined based on psychological levels or newly formed resistance zones. On the support side, the first level to watch is 0,9271. This area is an important horizontal support because it is close to the position of the MA 100. As long as price can still hold above this level, the bullish structure remains valid. If price drops back toward this area, the likelihood of renewed buying interest is quite high given that this level has acted as a bounce area several times in recent weeks. The next support is in the 0,9223 area, which is a previous consolidation zone as well as a fairly strong intermediate support. A decline down to this level can still be categorized as a healthy correction as long as price has not broken below the MA 200. However, if selling pressure manages to push price below 0,9223, the probability of a deeper correction will increase. The next major support is around 0,9176, which is the main foundation of the uptrend that has formed since early June. Below that level there is still additional support around 0,9158, which is effectively the last line of defense before the medium-term bullish structure starts to be called into question. Candlestick movement over the last few sessions shows that volatility has started to increase. After reaching a new high, a fairly long bearish candle appeared as a sign of profit-taking. However, that selling pressure has not been able to push price below the MA 100; in fact, buyers have responded by pushing price back up from the correction area. This condition shows that although sellers briefly took control in the very short term, buyers still have the ability to maintain the overall bullish structure. From a momentum perspective, the ongoing correction phase can provide an opportunity for the market to build fresh energy before continuing the main trend. In many cases, a pullback toward the MA 100 after a fairly extended rally often becomes an attractive area for market participants to re-accumulate. Therefore, price reaction around the MA 100 will be one of the key factors determining the direction of EUR/CHF in the coming sessions. Overall, the technical analysis of EUR/CHF on the H4 timeframe still shows a bullish bias. The fact that price remains above the MA 100 and MA 200 indicates that the uptrend is still dominant despite the correction after touching the 0,9348 resistance. The main supports are at 0,9326, then 0,9271, 0,9223, and 0,9176, while the nearest resistance is at 0,9348. As long as price can hold above the MA 100 and the key horizontal supports, the chance to retest the highest resistance remains open. Conversely, if selling pressure increases enough to break below the 0,9271 support and is followed by a break of the MA 100, the correction could extend toward lower support areas before buyers regain momentum to continue the medium-term uptrend.