0726 GMT - EUR/CHF's medium-term uptrend may extend if key pivotal support at 0.9830 holds, based on technical charts, says Kelvin Wong, senior market analyst at Oanda, in an email. Under such a scenario, the currency pair could undergo another potential impulsive upmove to test medium-term resistance in 1.0040-1.1000 area, which also confluences closely to the long-term descending trendline from the April 2018 high, Wong says. However, a break of EUR/CHF below 0.9830 would negate its bullish tone to expose medium-term support levels at 0.9680 and 0.9575, Wong adds. EUR/CHF is little changed at 0.9919. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 28, 2024 03:26 ET (07:26 GMT)
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