Technical Analysis – EURCHF tumbles to 33-month low; rebound likely in short-term
Posted on January 21, 2020 at 8:36 am GMTEURCHF paused its 21-month old downtrend near a 33-month low of 1.0726 on Monday. With the RSI and the Stochastics rebounding deep in the oversold area, the MACD stabilizing below its red signal line and the price deviating slightly above the lower Bollinger band, the odds for an upside correction seem to be elevated. A forceful rally above the September low of 1.0810 and the middle Bollinger band could generate additional buying interest, sending resistance probably near 1.0900 which the bulls [..]