The EUR/CHF pair has been moving downwards, since the 13th of November 2015, with the bears leading the price from as high as 1.0829 to as low as 1.0772.
During the course of the day on Monday, the currency pair went back and forth, reaching 1.0818 at its highest and 1.0783 at its lowest level. Today, the pair reached 1.0790 and then fall to 1.0778. Provided that there is much support below the level of 1.0772, the pair could be forced to go back up. In the event that the buyers gain enough momentum to push the price to break above 1.0801, profit targets could be set at 1.0808 and 1.0829 in extension.
Conversely, in the scenario where the sellers resume their downward activity and the price breaks below 1.0772, the pair could go down to 1.0755.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.