EUR/CHF On The Run

The EUR/CHF is back after the fall which started on May 22. The downswing stopped on June 24, and from that point the price created a channel-up formation (green lines). While trading inside the channel, buyers managed to break an important mid-term resistance at 1.2360, which now will also play an important role as a support. The European session started with a bullish upswing that is aiming for the upper channel line and looks like a possible breakout, which could show the bullish strength. If buyers are able to use this momentum, they will be able to attack the resistance at 1.2490. This will be a good place for sellers to correct the recent upswing.

EUR/CHF” title=”EUR/CHF” width=”624″ height=”284″ />The sentiment on this pair is rather positive, and will turn to negative once sellers manage to break the lower line of the channel-up formation and then the 1.2360 support.

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