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EUR/CHF intraday: look for a drop towards 0.9455 before a bounce

2023-10-26
369

Our pivot point stands at 0.9455.

Our preference: look for a drop towards 0.9455 before a bounce.

Alternative scenario: the downside breakout of 0.9455 would call for 0.9433 and 0.9420.

Comment: the RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the pair is trading under its 20 period moving average (0.9474) but above its 50 period moving average (0.9473).

Supports and resistances:

0.9539 **

0.9526 *

0.9513 **

0.9500

0.9473 last

0.9464

0.9455 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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