EURCHF - Not so pessimistic

EURCHF (1H) - short term bullish bias

The euro is trying to make a recovery across the board on Thursday. After a double dip, the pair rallied back above 1.0820. The bullish RSI divergence suggests that the sell-side has lost its momentum, a sign that sentiment could be improving. The latest bullish confirmation comes in the shape of the 20-hour moving average crossing above the 30-hour one. As the euro consolidates its gains, we would expect the rally to extend and test the previous highs around 1.0850.

Key support: 1.0800
Key resistance: 1.0850