The EUR/CHF pair has been ranging between the levels of 1.0872 and 1.0766, since the 25th of July 2015.
The currency pair tested the support line several times, with the latest bounced noticed at 1.0823. Lately, the pair stabilised below1.0860 and above 1.0823, a good indication that the price might retrace once again to the downside. If the bears manage to resume their downward pressures, the pair could decelerate down to 1.0796 and 1.0777 in extension.
In the opposite scenario, where the buyers become stronger and outweigh sellers in trading volume, they could push the price up to 1.0880.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.