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Block trade

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Broader base selling going through

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Clears Key Support Handle

EURCHF TECHS

EURCHF has cleared a key support area at 1.0658. This is the 76.4% retracement of the May 2020 - Mar 2021 rally and is an area that provided support early November 2020 and as recently as last Friday.

  • The break confirms a resumption of the downtrend and paves the way for weakness towards 1.0607 next, the Jul 10 2020 low.
  • A breach of the 1.0600 handle would open 1.0577, May 25 2020 low.
  • Firm short-term resistance has been defined at 1.0704, yesterday's high.

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