EURCHF Chart Technical Outlook The cross faces headwinds at 0.9577, The medium-term focus is bullish with completing a Crab formation at 0.9653. We have been bespoke resistance located at 0.9654.
Although the dip has been bought in overnight trade and ample scope exists for further bullish pressure, we have a barrage of resistance between 0.9572 and 0.9578. This should be the completion of the AB leg in the Gartley formation and result in a correction to the downside.
Conclusion: The medium-term focus is on higher levels with the completion of the Crab formation seen at 0.9653. This would then offer a selling opportunity. We look for mixed and volatile trading up to this level.
Resistance: 0.9572 (bespoke), 0.9577 (confluence), 0.9578 (supply zone)
Support: 0.9528 (demand zone),0.9515 (swing low), 0.9408 (low)