EURCHF Buyers Could Reach 1.0100

Wed 1st March 2023 : Daily Currency Strength Analysis

In Today’s Video we’re looking at Trading Setups in:

• EURCHF
• NZDCAD (Covered in Video)
• AUDNZD (Covered in Video)

EURCHF Buyers Could Reach 1.0100

In today’s forex strength video we identified that the EURO (EUR) is a strong currency and the Swiss Franc (CHF) is a weak one.

This makes EURCHF one of the forex pairs in focus for today.

Price has been in an upwards trend since finding support at the lows of 0.9500.

Recently price has been trading in a tight range around the daily 200 moving average.

Now price has broken above this zone we could expect to see the price return back to the highs around the resistance of 1.0100.

Trend traders could consider a retest of the minor trading range before looking for a buying opportunity.

Technical Observations

• The EUR is S3 and CHF is W1 on the day traders table.
• Price has traded outside of a minor trading range.
• Price is trading above the 200 daily moving average.
• Buyers could target previous weekly highs at 1.0100 resistance.
• Minor trading range could act as support for long opportunities.