EUR/CHF: picture looks grim

EUR/CHF: picture looks grim

Information is not investment advice

EUR/CHF broke below 1.1150 - the lower border of the sideways range within which it has been trading since the middle of 2018. Then the euro retested this line at the end of June but was once again rejected lower. It means that the pair will likely go to lower levels. The obvious target lies at 1.0925 (78.6% Fibo retracement of the 2017-2018 advance). 

The upcoming meeting of the European Central Bank represents a negative factor for the European currency.

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