EUR/CHF 1H Chart: Downside potential likely
The Swiss Frank has been appreciating against the Euro since the pair reversed from the 2017/2018 high at 1.2000. This movement is bounded by a falling wedge.
As apparent on the chart, the currency pair has reversed from the pattern's upper boundary during Friday's morning. It is expected that the pair should go downside to the lower boundary of the wedge located circa 1.1140. An important support level to look out for is the Fibonacci 0.20% retracement at 1.1195.
It is the unlikely case that some bullish pressure still prevails in the market, the Euro should not exceed the 200-period SMA (4H) at 1.3333.
As apparent on the chart, the currency pair has reversed from the pattern's upper boundary during Friday's morning. It is expected that the pair should go downside to the lower boundary of the wedge located circa 1.1140. An important support level to look out for is the Fibonacci 0.20% retracement at 1.1195.
It is the unlikely case that some bullish pressure still prevails in the market, the Euro should not exceed the 200-period SMA (4H) at 1.3333.