Search ForexCrunch
  • EUR/CHF needs to clear the hurdle at 1.0707 to confirm breakout. 
  • Rejection at that level could invite stronger selling pressure.

EUR/CHF has created an inverse head-and-shoulders pattern with resistance at 1.0707, as seen on the 4-hour chart. 

Acceptance above the resistance would confirm breakout or bearish-to-bullish trend change and open the doors to 1.0746.

A move to that level would confirm an upside break of the trendline falling from Sept. 28 and Oct. 8 high and bolster the bullish outlook. 

However, if the inverse head-and-shoulders hurdle proves a tough nut to crack, fresh selling toward 1.0668 may be seen. 

4-hour chart

Trend: Bullish above 1.0707

Technical levels