FX.co ★ EUR/CHF

In the EURCHF pair, the support levels from the hourly and four-hour timeframes have been broken through, and now, according to the Envelopes indicator, there is a resistance zone limited by the levels of 0.9348 - 0.9365. Currently, the EURCHF pair is trading at a price of 0.9327, just 20 pips away from the lower boundary of the mentioned resistance zone. Additionally, on the daily timeframe, we are at the top of the trading range. I believe that we can now expect the EURCHF pair to decline from the current level of 0.9337 towards the support level of 0.9255. Given that all three main timeframes are simultaneously pointing south, we may also experience an acceleration in the price decline.