Current Trend: Bearish

Relevant Key Levels: Resistance at 1.0833 and 1.1059. Support at 1.0725 and 1.0625

Notes: EURCHF is clearly in downtrend from 1.2004 (2018 high). This pair is known as a pair trend because there are often long upward or downward trends and the current situation proves that fact.

Further declines should be expected towards 1.0625 and possibly lower. However, break above 1.0833 will indicate short term bottom and stronger correction towards 1.1059 should be in the cards.

Potential Trade Idea: Consider short position at current levels, targeting a move towards the 1.0625 region. Stops should be above 1.0833.