EUR/CHF forecast for March 25, 2021

Looking at the graph on the weekly time frame, we see that the EUR/CHF pair is moving in one ascending channel and that after touching the top edge, it makes a pullback from 1.116000 to the current 1.105500. The EMA200 is currently being tested as support, while the MA200 is still resistant to higher levels on the chart for now. When we set the Fibonacci retracement level, we see that the EUR/CHF pair tests and consolidates about 38.2% of the level (1.106817).
If we look at the bearish side and support the continuation of the pullback as targets, we are looking for potential support in the moving averages MA20 and EMA200 at the psychological level of 1.10000. In general, global vaccination should distract investors from the Swiss franc, and based on that, and we can expect to see higher levels on the chart in the coming period. The problem is the slow vaccination in the European Union, so the chart’s growth will probably be slower than expected.

On the daily time frame, we will deal with movement in this parallel channel. We see that after declining, the EUR/CHF pair makes a pullback to the moving averages MA20 and EMA20, slightly directing the EUR/CHF pair towards lower levels towards MA50 approaching the psychological level at 1.10000. Below are also close to the MA200 and EMA200, and those two moving averages are likely to give better pair support and a more secure picture on the chart for buyers. Based on the chart, we expect a maximum pullback of up to 1,085,000 bottom channel lines.

In the four-hour time frame, we see the EUR/CHF pair moving within a smaller drop channel bouncing off the bottom and top edges moving around the moving averages MA20 and EMA20 and MA50, directing us towards better support in the moving averages MA200 and EMA200. We can expect some consolidation because we are close to 1,100,000 at a very important level on the chart. In essence, we are still in consolidation in the coming period until the chart says otherwise.