The EURCHF currency pair has been buoyed by positive momentum, recently breaking through the 0.9380 mark. This rally comes amid heightened pressure from stochastic indicators, which have reached overbought territory. However, the pair has encountered resistance at the 0.9410 level, where it is consolidating near the 55-period moving average (MA55), posing a challenge to further upward movement.
Analysts suggest that if the pair manages to build additional bullish momentum, it could clear the current resistance and target higher price levels. The next potential targets include 0.9445, followed by the 38.2% Fibonacci retracement level at 0.9485.
For today, the expected trading range for EURCHF is between 0.9385 and 0.9445.
Trend Forecast: Bullish
Related topics: