EUR/CHF to Taste Resistance at the 1.1009-20 Area

The EUR/CHF pair has rebounded at 1.0927, the 2020-2021 uptrend. As the pair has bounced off this uptrend mark, analysts are focusing their attention on the 55-day moving average. This is a peak reached in May and the top of the channel at the 1.1009-1.1028 zone. 

As EUR/CHF is no longer at the 1.0927 mark, analysts are eyeing the 55-day ma at 1.1009. There is the 1.1021 channel high above the 55-day moving average. The 1.1028 mark, which is the high hit on May 19, also lies above the 55-day ma. If the EUR/CHF pair closes above these levels, it will set on the bullish trajectory. It will also initially target the 1.1075 mark, which is the highest mark visited at the end of April. In doing so, the pair will also guard the 1.1148-1.1152 region, which is the March peak, along with the 200-week moving average.

If the EUR/CHF pair moves above the mentioned 1.1148-1.1152 area and the 200-week moving average, it will target the 50% retracement of the slide from the 2018 top at 1.1255. 

In the long run, the EUR/CHF pair will zero in on the 1.1325 mark.