EUR/CHF 4H Chart: Two scenarios likely
The EUR/CHF currency pair continued to trade downwards within the falling wedge pattern.
From a theoretical point of view, it is likely that the exchange rate could decline within the given pattern within the following trading sessions. Then, a breakout north could occur, and the rate could target the Fibo 23.60% at 1.0861.
Meanwhile, note that the currency pair is pressured by the 55-, 100– and 200-period moving averages in the 1.0695/1.0740 range. Thus, some downside potential could continue to prevail in the market.
EUR/HUF 4H Chart: Bears could prevail
As apparent on the chart, the EUR/HUF exchange rate breached the rising wedge pattern south.
From a theoretical perspective, it is likely that some downside potential could prevail in the market. In this case the currency pair could target the Fibonacci 38.20% retracement at 347.15.
In the meantime, note that the pair could gain support from the Fibonacci 23.60% retracement at 355.21. Thus, a reversal north could occur, and the rate could re-test the 368.25 mark.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
Recommended Content
Editors’ Picks
EUR/USD retreats to 1.0700 area following post-PCE jump
![EUR/USD retreats to 1.0700 area following post-PCE jump](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/EURUSD/photo-of-the-american-and-euro-banknotes-57153806_XtraSmall.jpg)
After spiking to a daily high of 1.0720 with the immediate reaction to US PCE inflation data, EUR/USD lost its traction and declined to the 1.0700 area. Investors remain cautious ahead of this weekend's French election and make it difficult for the Euro to gather strength.
GBP/USD stays below 1.2650 after US inflation data
![GBP/USD stays below 1.2650 after US inflation data](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/GBPUSD/iStock-688526532_XtraSmall.jpg)
GBP/USD struggles to preserve its bullish momentum and trades below 1.2650 in the American session on Friday. Earlier in the day, the data from the US showed that the annual core PCE inflation declined to 2.6% in May, limiting the USD's upside and helping the pair hold its ground.
Gold keeps its daily gains near $2,330 following US PCE data
![Gold keeps its daily gains near $2,330 following US PCE data](https://editorial.fxstreet.com/images/Markets/Commodities/Metals/Gold/stacked-gold-bars-13094022_XtraSmall.jpg)
Gold prices maintain their constructive bias around $2,330 after US inflation readings gauged by the PCE matched consensus in May and US yields advance slightly across the curve.
BTC struggles around the $62,000 level
![BTC struggles around the $62,000 level](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/cryptocurrenciesusd_XtraSmall.jpg)
Bitcoin price faces pullback resistance at the lower band of the descending wedge around $62,000. Ethereum price finds support at $3,288, the 61.8% Fibonacci retracement level. Ripple price faces resistance at $0.500, its daily resistance level.
French Elections Preview: Euro to suffer after the calm, as specter of extremists, uncertainty rise Premium
![French Elections Preview: Euro to suffer after the calm, as specter of extremists, uncertainty rise](https://editorial.fxstreet.com/images/Macroeconomics/Countries/Europe/Eurozone_countries/France/pantheon-paris-with-french-flag-8748101_XtraSmall.jpg)
The first round of French parliamentary elections is set to trigger high uncertainty. Soothing messages from the far right and far left leave the Euro vulnerable to falls. Calm may return only after the second round of voting on July 7.