EUR/CHF decline ahead? – Varengold

FXStreet (Barcelona) - According to Varengold Bank, EUR/CHF technicals suggest the pair is at a crucial stage, having seen declines previously when the pair reached overbought levels, as seen currently.

Key Quotes

“After the pair reached a three months low it recovered immensely and moved out of the long term bearish trend channel. Currently it is fighting with the strong resistance level around 1.0489 while the Demarker is already indicator an overbought market situation. Whenever the Demarker touched this high level, it declined.”

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