- EUR/GBP rose to 0.86023 on Friday, marking a weekly high there.
- During the Asian trading session, EURCHF is seeing bullish consolidation at 0.96985.
EURGBP chart analysis
EUR/GBP rose to 0.86023 on Friday, marking a weekly high there. After that, there was a sharp pullback to the support level of 0.85775. During the Asian trading session, the pair was quite calm, moving in the range of 0.85750-0.85800. At the beginning of the EU session, the Euro started to weaken and we see a pullback to the 0.85650 level. We have fallen below the EMA50 and are under some bearish pressure.
Possible lower targets are 0.85650 and 0.85600 levels. Additional support in the area around 0.85575 is the EMA200 moving average. With a return above the 0.85800 level, we are back above the weekly opening price, and are once again on the upside. After that, we will have to hang in there in order to form a bottom from which we can easily begin a positive consolidation of the recovery. Possible higher targets are 0.85850 and 0.85900 levels.
Chart analysis of the euro against the Swiss franc
During the Asian trading session, EURCHF is seeing bullish consolidation at 0.96985. In the previous hour we rose to 0.97250 where we stopped. At this hour we are looking for a pullback that could take us to the 50 moving average at 0.97150. With the new support, we will once again have the opportunity to continue to the upside. Possible higher targets are 0.97300 and 0.97400 levels.
We need to pull back to the weekly opening price of 0.96985 to get a bearish option. With pressure on this level, the EUR/CHF may fall to a new daily low. After that, the pair will head towards lower levels, and possible lower targets are the 0.96900 and 0.96800 levels. Additional support is in the area around 0.96700 in the EMA200.
