EURCHF: Vulnerable To The Downside Despite Recovery Attempts

FXAssure • by FXTechstrategy Team

Forex Trades • Aug 21, 2015 at 5:07 PM EDT

Despite EURCHF's recovery attempt on Thursday, it still maintains its downside pressure triggered off the 1.0961 level. Support lies at the 1.0700 level where a break will aim at the 1.0650 level.

EURCHF: Despite its recovery attempt on Thursday, EURCHF still maintains its downside pressure triggered off the 1.0961 level. Support lies at the 1.0700 level where a break will aim at the 1.0650 level and then the 1.0600 level. Its weekly RSI has turned lower suggesting further downside pressure. Conversely, resistance resides at the 1.0800 level where a break will aim at the 1.0850 level. A break of here will have to occur to create scope for a run at the 1.0900 level. Further out, resistance comes in at the 1.0950 level. All in all, EURCHF remains biased to the downside in the short term.

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