EUR/CHF Price Forecast: EUR/CHF remains above 0.9350, nine-day EMA
- EUR/CHF may further gain ground as the daily chart analysis indicates a prevailing bullish bias.
- The initial resistance appears at its six-week high of 0.9418 level.
- Nine- and 14-day EMAs at 0.9347 and 0.9338, respectively, appear as the primary support levels.
EUR/CHF retraces its recent losses from the previous session, trading around 0.9380 during the European hours on Wednesday. The daily chart analysis indicates a prevailing bullish bias as the EUR/CHF cross moves upwards within the ascending channel pattern.
The EUR/CHF cross remains above the nine- and 14-day Exponential Moving Averages (EMA), indicating an ongoing bullish outlook and signaling to strengthen short-term price momentum. This points to increasing buying interest and raises the likelihood of further price appreciation.
Additionally, the 14-day Relative Strength Index (RSI) remains above the 50 mark, further strengthening the bearish sentiment.
On the upside, the EUR/CHF cross may retest its six-week high of 0.9418 level, marked on December 17, aligned with the upper boundary of the ascending channel at 0.9430 level. A break above this critical region would strengthen the bullish bias and support the pair to approach its three-month high of 0.9459 level, which was recorded on November 4.
Regarding support, the EUR/CHF cross could test nine- and 14-day Exponential Moving Averages (EMAs) at 0.9347 and 0.9338 levels, respectively. A break below these levels would weaken the short-term price momentum and put downward pressure on the currency cross to navigate the area around the ascending channel’s lower boundary at 0.9280 level.
Further support appears at its four-week low at 0.9256 level, followed by the “throwback support” at 0.9200 level.
EUR/CHF: Daily Chart
Euro PRICE Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.08% | 0.18% | 0.14% | 0.08% | 0.35% | 0.37% | 0.10% | |
| EUR | 0.08% | 0.27% | 0.21% | 0.16% | 0.43% | 0.46% | 0.18% | |
| GBP | -0.18% | -0.27% | -0.04% | -0.11% | 0.16% | 0.19% | -0.08% | |
| JPY | -0.14% | -0.21% | 0.04% | -0.07% | 0.20% | 0.22% | -0.04% | |
| CAD | -0.08% | -0.16% | 0.11% | 0.07% | 0.27% | 0.29% | 0.03% | |
| AUD | -0.35% | -0.43% | -0.16% | -0.20% | -0.27% | 0.02% | -0.24% | |
| NZD | -0.37% | -0.46% | -0.19% | -0.22% | -0.29% | -0.02% | -0.26% | |
| CHF | -0.10% | -0.18% | 0.08% | 0.04% | -0.03% | 0.24% | 0.26% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Author
Akhtar Faruqui
FXStreet
Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.
