The EUR/CHF on the 4-hour time frame has been following a downtrend recently. The price broke below the key level of 1.08400 on 15 August to register the lowest level of period under study at 1.08366. As of writing, the price is hovering around 1.08676. Bears are in full control of the market with negative MACD and RSI below 50 level on the 4-hour chart.
The 4-hour chart of the EUR/CHF confirms the negative sentiment in the price movement as the pair is making successively lower tops and lower bottoms.
By applying Oscillators Analysis, all three indicators confirm the negative bias in the market. As the chart shows, price is below the 50-period Simple Moving Average. The MACD (Moving Average Convergence/Divergence) is recording values below the zero-line which shows negative sentiment in the EUR/CHF. RSI (Relative Strength Index) showing values below 50 which supports the bearish sentiment.
In alternative scenario, key resistance level lies at 1.09581. Bulls must break this level in order to regain bullish sentiment in the market.
The 4-hour chart of the EUR/CHF confirms the negative sentiment in the price movement as the pair is making successively lower tops and lower bottoms.
By applying Oscillators Analysis, all three indicators confirm the negative bias in the market. As the chart shows, price is below the 50-period Simple Moving Average. The MACD (Moving Average Convergence/Divergence) is recording values below the zero-line which shows negative sentiment in the EUR/CHF. RSI (Relative Strength Index) showing values below 50 which supports the bearish sentiment.
In alternative scenario, key resistance level lies at 1.09581. Bulls must break this level in order to regain bullish sentiment in the market.