EUR/CHF: the final target

EUR/CHF: the final target

Information is not investment advice

Although EUR/CHF has already made a big leap to the downside, the weekly chart shows that the decline looks unfinished and the pair may slide to even lower levels. Such a scenario is plausible given the European Parliamentary election that is taking place this week and the high probability that the eurosceptics will strengthen their position.

The target levels for selling EUR/CHF are in the 1.1160 area (support line connecting 2018 and 2019 lows; March low; 200-week MA). The fall will be likely as long as the pair is below 78.6% Fibo retracement of March-April advance at 1.1230.

EURCHF w.png

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To gain the ability to head higher, towards 1.3445, USD/CAD needs to overcome 1.3355 (61.8% Fibo of the May-July decline).  

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