EUR/CHF ready to roll (over)?
EUR/CHF posted a decent rally from its October low, yet we're yet to see a meaningful pullback. But one may be near.
A 2-bar bearish reversal has formed at a resistance zone and the 200-day EMA. Tuesday's high is also a lower high in relation to the September high.
From here we're looking for some bearish mean reversion towards the monthly pivot.
What makes us unsure of whether it's a to revert to the dominant, bearish trend is the depth of the bounce into resistance. But for now, the path of least resistance could be lower over the near-term.
A 2-bar bearish reversal has formed at a resistance zone and the 200-day EMA. Tuesday's high is also a lower high in relation to the September high.
From here we're looking for some bearish mean reversion towards the monthly pivot.
What makes us unsure of whether it's a to revert to the dominant, bearish trend is the depth of the bounce into resistance. But for now, the path of least resistance could be lower over the near-term.
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