EUR/CHF Price Analysis: Road to parity now open

📆 4/4/2024 12:36 PM
📰 FXStreetNews

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Technical Analysis

EUR/CHF is trading at 0.9847 as it rallies higher, extending an uptrend on both a short and intermediate time frame.

EUR/CHF has reversed its intermediate-term downtrend and is rallying strongly. There are few technical obstacles in the way until the pair reaches parity. EUR/CHF is oversold according to the RSI which suggests the risk of a pullback. The road is open and parity is in sight. Euro to Swiss Franc: Daily chart The pair has broken above all major moving averages and a major trendline for the downtrend, suggesting the bear trend has been broken.

The next key resistance level is at around parity suggesting the pair could rally up to that level without much obstruction. The red 50-day has crossed above the 100-day SMA which is a bullish signal. It has also just crossed above the 200-day SMA. However, in the case of the 200, the longer MA was still falling marginally during the crossover, watering down its reliability – disqualifying it by a hair’s breadth from being a Golden Cross.

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