Since this week’s trading sessions, the common European currency has depreciated about 0.93% in value against the Swiss Franc. The currency pair tested the 61.80% Fibonacci retracement level at 1.0928 on December 4.
If the support line, formed by the 61.80% Fibo level holds, bullish traders could pressure the EUR/CHF exchange rate towards the 1.1040 area could be expected during the following trading sessions.
However, if the currency exchange rate breaks the support level, the next target for bears will be at the 1.0880 zones within the following week’s trading sessions.
