EUR/CHF 1H Chart: Short-Term Increase Expected

The EUR/CHF currency pair has been trading downwards, guided by a descending trend line.

Given that the exchange rate could gain support from the 55-, 100– and 200-hour moving averages, it is likely that some upside potential could prevail in the market.

Meanwhile, note that the currency pair could face the resistance level formed by the Fibo 23.60% at 1.0859. Thus, it is likely that a reversal south could occur, and the pair could decline to the 1.0500 level.