EUR/CHF Correction Hits Major Support

In today’s technical analysis, let’s take a closer look at EUR/CHF, which has had an eventful trading period. The first half of last week was highly positive for the Euro, as the price climbed significantly higher. However, a bearish correction on Thursday and Friday erased some of those gains, bringing the pair back to a critical horizontal support.

This key support level, marked in orange at 0.9515, has now become the mid-term decision point for EUR/CHF. The pair is still holding above it, but the next move will determine the future trend.

A break below 0.9515 would be a strong bearish signal, opening the door for a move toward the next major support, marked in blue at a lower level. Conversely, if the price holds above this support and bounces, it would indicate renewed bullish momentum, creating a buy opportunity with a target near the previous week’s highs.

Traders should keep a close eye on this support zone, as whichever direction EUR/CHF moves next will likely define its mid-term trend.

Source: https://www.axiory.com/analytics/technical-analysis/eur-chf-correction-hits-major-support