The common European currency has depreciated by 1.09% in value against the Swiss Franc since last week’s trading sessions. The currency pair breached the 50-, 100– and 200– hour SMAs during this period.
As for the near future, the EUR/CHF exchange rate will likely continue to edge lower. The potential target will be near a psychological support level at the 1.0850 area.
However, a support cluster formed by the monthly S1 and the weekly S1 near the 1.0900 zones could hinder bears from driving the currency exchange rate further south within the following trading sessions.
