The pair of EUR/CHF is currently trading around the 0.94 mark on Monday, registering slight gains as the market stabilizes within its recent range. Despite these small gains, the pair’s technical outlook remains balanced, with conflicting signals across different timeframes. Although short-term momentum is hinting at a potential upward movement, caution is still advised in overall trading.
On the daily chart, the technical landscape for EUR/CHF is mixed. The Relative Strength Index (RSI) is hovering in the neutral zone, indicating an equilibrium between buyers and sellers. Meanwhile, the Moving Average Convergence Divergence (MACD) is showing signs of buying momentum, providing a slight bullish undertone. However, the Awesome Oscillator remains around the neutral zone, confirming the indecisive sentiment, and the Average Directional Index (14) is at 12, showing no clear trend. The Ultimate Oscillator, also in the neutral zone, supports this sideways sentiment, while the Ichimoku Base Line, positioned around 1, signals the market’s indecision.
Moving averages also present a mixed picture. The 20-day Simple Moving Average (SMA) supports a bullish bias, in line with the recent minor gains, while the 100-day and 200-day SMAs suggest a more bearish long-term outlook. This indicates that any potential upward movement in the near future may struggle to gain momentum without a broader shift in market sentiment.
Zooming in on the 4-hour timeframe, the technical outlook becomes slightly more bullish. The 4-hour MACD is in positive territory, showing an increase in buying momentum, and both the 10-period Exponential Moving Average (EMA) and 10-period SMA also support a bullish bias. However, the 20-period 4-hour SMA gives a conflicting sell signal, highlighting the possibility of short-term pullbacks despite the overall bullish tone. The Bull Bear Power and the 4-hour Ultimate Oscillator remain neutral, adding to the mixed signals.
In terms of price levels, immediate support is seen at 0.9368, followed by 0.9366 and 0.9364. On the upside, resistance is expected around 0.9373, closely followed by 0.9390 and 0.9407. Broader Fibonacci clusters point to stronger support in the range of 0.9000 to 0.9200, while resistance extends towards 0.9600 to 0.9800, providing a wider context for possible breakout or breakdown scenarios.