EUR/CHF Weekly Forecast: Resumption of Uptrend Indicates Potential High Retest

Saturday, 13 July 2024, 09:25
EUR/CHF's recent breach of the 0.9754 resistance level suggests that the upward movement from 0.9476 is likely to continue. This week, the initial bias is towards further upside momentum, with a potential retesting of the 0.9928 high. However, a downside break of 0.9677 could shift the bias towards a deeper pullback.
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EUR/CHF Weekly Forecast: Resumption of Uptrend Indicates Potential High Retest

EUR/CHF Weekly Forecast Overview

EUR/CHF showed strength by surpassing the 0.9754 resistance, signaling a resumption of the uptrend.

Key Points:

  • Upward Momentum: The break indicates a potential continuation of the current uptrend.
  • High Retest: Further rally could lead to a retest of the 0.9928 high.
  • Downside Warning: A breach of 0.9677 might trigger a deeper pullback.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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