The EUR/CHF pair has been ranging mostly between the levels of 1.0891 and 1.0946, since the 7th of October 2015.
The currency pair initiated an aggressive upward movement during the course of the day on Friday, moving from as low as 1.0889 to as high as 1.0928, with a subsequent small correction to the downside, to finally test the resistance line at 1.0943. The bulls, though, seem to find the 1.0943 level too resistive, thus pulling back once again to the downside. In the event that the sellers manage to gain momentum and attempt a successful break below the level of 1.0913, the pair could go down to 1.0904 and 1.0895 in extension.
Conversely, in the scenario where the buyers keep exerting stronger pressures and succeed inbreaking above the level of 1.0943, the price could rise up to 1.0955.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.