EURGBP and EURCHF: EURCHF climbs up to 0.99300 level

EURGBP chart analysis

During the Asian trading session, EURGBP moved in the 0.85100-0.85200 range. Today is a holiday in the United Kingdom, so we have no volatility on the chart now in the EU session. In the afternoon, we also do not expect major movements on the chart due to the holidays in the US as well. We can expect a more specific movement only tomorrow. We need an impulse above the EMA50 and the 0.85200 level for a bullish option. 

Then, it is necessary to maintain the pair up there if it plans to start a further round. Potential higher targets are 0.85250 and 0.85300 levels. We need a positive consolidation and pullback below the 0.85100 level for a bearish option. With this, we descend to a new weekly low and confirm the bearish option. Potential lower targets are 0.85050 and 0.85000 levels.

EURCHF chart analysis

During this morning’s Asian session, EURCHf rose to 0.99302 levels. A new May high was formed at that level. After that we stop there and pull back to the 0.99195 level. The pair thus retreats below the weekly open price, exerting pressure on the daily low. By falling to the 0.99150 level, we will form a new daily low, which could initiate bearish consolidation moves. 

Potential lower targets are 0.99100 and 0.99050 levels. Additional support is the EMA50 moving average in the 0.99100 zone. If we think bullish, we need a positive consolidation and a return to the 0.99300 level. A new visit to the previous high could push EURCHF to a new weekly higher high. Potential higher targets are 0.99350 and 0.99400 levels.

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