EUR/CHF: EUR/CHF reaches yearly high of 0.96390
- During the Asian trading session, EUR/GBP mostly consolidated around the 0.85500 level.
- During the Asian trading session, EURCHF was in a moderate bullish consolidation.
EURGBP chart analysis
During the Asian trading session, EUR/GBP mostly consolidated around the 0.85500 level. In the EU session, we see a strong push and growth reaching the level of 0.85626. Thus, we form a new weekly high and confirm the advantage of the euro against the British pound. We now have a slight pullback to the 0.85550 level and have enough room to consolidate above the Asian session.
This sends us a positive response that we will see more growth in the EUR/GBP. Possible higher targets are 0.85600 and 0.8650 levels. We would first have to go back below the 0.85550 level to get a bearish option. This would indicate that the euro is weakening and that we are returning to the previous movement zone. Possible lower targets are 0.85500 and 0.85450 levels. Additional support in that area is the EMA200 moving average.
Chart analysis of the euro against the Swiss franc
During the Asian trading session, EURCHF was in a moderate bullish consolidation. It continued in the European Union session until the level of 0.96389, where we formed a new annual high. After that, we pulled back to 0.96200 and tested the weekly opening price there. We have been able to hold above, which means we may see another bullish consolidation. Possible higher targets until the end of the day are 0.96350 and 0.96400 levels.
We need a negative consolidation and a drop below the weekly open price to get a bearish option. Therefore, we will be able to test the Asian bottom this morning. A break below this creates a new daily low and thus confirms the weakness of the Euro and a decline in EURCHF to lower levels. Possible lower targets are 0.96100 and 0.96000 levels. The EMA200 moving average represents additional support at the 0.96000 level.
The article EURGBP and EURCHF: EURCHF rises to yearly high of 0.96390 appeared first on FinanceBrokerage.
