#EURCHF @ 0.94749 The is grinding higher heading into Thursday, in play around 0.9475.
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- The EUR/CHF is grinding higher heading into Thursday, in play around 0.9475.
The pair currently trades last at 0.94749.
The previous day high was 0.9516 while the previous day low was 0.9457. The daily 38.2% Fib levels comes at 0.948, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9493, expected to provide resistance.
The EUR/CHF is floating into the top side heading into Thursday trading, and the pair caught a brief lift into 0.9490 before falling back into Wednesday’s range, and the pair now gears up for another showing from the European Central Bank (ECB).
Swiss business confidence is declining according to the ZEW Expectations Survey for October, which worsened from -27.6 to -37.8.
Economic conditions continue to deteriorate across the European continent, and Euro (EUR) traders are gearing up for another showing from the ECB on Thursday, which will be dropping their latest rate call and Monetary Policy Statement during the European market session.
The ECB is broadly expected to keep rates steady where they are for the time being, but as ECB President Christine Lagarde noted recently during a television interview in Greece, the fight against inflation isn’t over yet, but President Lagarde and the other policymakers at the ECB remains confident they will see inflation return to 2%i at some point in the future.
Despite Wednesday’s mild rebound, the Euro remains firmly planted in bear country against the Swiss Franc, with the pair caught near yearly lows currently marked in at 0.9420. A resistance zone from 0.9520 to 0.9600 will complicate matters for any bulls that try to jumpstart a trend reversal, and a break below last November’s lows near 0.9409 will see the EUR/CHF making new all-time lows.
Technical Levels: Supports and Resistances
EURCHF currently trading at 0.9474 at the time of writing. Pair opened at 0.946 and is trading with a change of 0.15 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.9474 |
| 1 | Today Daily Change | 0.0014 |
| 2 | Today Daily Change % | 0.1500 |
| 3 | Today daily open | 0.9460 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.9566, 50 SMA 0.9573, 100 SMA @ 0.9629 and 200 SMA @ 0.9746.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.9566 |
| 1 | Daily SMA50 | 0.9573 |
| 2 | Daily SMA100 | 0.9629 |
| 3 | Daily SMA200 | 0.9746 |
The previous day high was 0.9516 while the previous day low was 0.9457. The daily 38.2% Fib levels comes at 0.948, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.9493, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 0.944, 0.9419, 0.9381
- Pivot resistance is noted at 0.9498, 0.9536, 0.9556
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.9516 |
| Previous Daily Low | 0.9457 |
| Previous Weekly High | 0.9534 |
| Previous Weekly Low | 0.9418 |
| Previous Monthly High | 0.9694 |
| Previous Monthly Low | 0.9521 |
| Daily Fibonacci 38.2% | 0.9480 |
| Daily Fibonacci 61.8% | 0.9493 |
| Daily Pivot Point S1 | 0.9440 |
| Daily Pivot Point S2 | 0.9419 |
| Daily Pivot Point S3 | 0.9381 |
| Daily Pivot Point R1 | 0.9498 |
| Daily Pivot Point R2 | 0.9536 |
| Daily Pivot Point R3 | 0.9556 |
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