EUR/CHF: Daily studies have finally turned up from violently oversold readings after breaking to fresh record lows by 1.4145, but weekly and monthly studies are still showing plenty of room for additional upside from here. The recent break back above 1.4410 is critical and should help to confirm major basing and accelerate gains back towards 1.4600 over the coming sessions. Look for any setbacks to now be well supported ahead of 1.4300. Next resistance comes in by 1.4465.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
If you wish to discus this topic or any other feel free to visit our Forum page