EURCHF - Rebound opportunity

EURCHF (1H) - short term bullish bias

The euro is currently in a corrective phase of the downtrend from May 2018. The most recent bounce was initiated from the demand zone of 1.0870 and the price may test the major resistance of 1.1050 in the coming weeks. On the hourly chart, the bullish RSI divergence near the daily support was a strong indication that sellers became fewer. After the bullish MA cross, the euro found more strength in pushing higher, and the averages are likely to act as support levels.

Key support: 1.0930
Key resistance: 1.1000