On Wednesday, the EUR/CHF currency pair bounced from the session lows of about 0.9196 to trade at about 0.9224. The currency pair trades within an ascending channel formation in the 60-minute chart. 

The pair has now advanced to trade slightly below the 100-hour moving average line. However, the currency pair still has some room left to run before reaching the overbought levels of the 14-hour RSI.

EUR/CHF Fundamentals Overview

From a fundamental perspective, the EUR/CHF currency pair trades during a relatively busy period in the EU market. On Wednesday, the EU’s seasonally-adjusted industrial production for February outperformed the expectation of 0.3%, with a change of 0.4%. The (YoY) equivalent also beat the forecasted change of -1%, with a change of -0.6%. 

Earlier in the week, Germany’s wholesale price index for March beat the expectation of 0.4%, with a change of 2.7%(MoM). The (YoY) equivalent delivered an improved change of 4.1% compared to 1.2% in the previous period. 

Looking forward, traders will be waiting for the EU’s harmonized index of consumer prices and the core harmonized index of consumer prices data for March on Thursday. Analysts expect similar rates to the previous update. 

In Switzerland, the producer and import prices for March are expected to deliver a slightly lower change of 0.2% (MoM), down from the previous month’s equivalent of 0.3%.

EUR/CHF Technical Analysis (the 60-min Chart)

Technically, the EUR/CHF currency pair trades within an ascending channel formation in the 60-minute chart. The 14-hour RSI also supports a short-term bullish bias as it advanced towards overbought conditions.

Therefore, the bulls will look to pounce on extended gains at about 0.9238 or higher at 0.9251. On the other hand, the bears will look to pounce on potential pullbacks at about 0.9209 or lower at 0.9196.

EUR/CHF Technical Analysis (the Daily Chart)

In the daily chart, the EUR/CHF currency pair trades within a sharply ascending channel formation. However, the 14-day RSI has recently pulled back to avoid rallying into overbought conditions.

Therefore, the bears will look to stretch the latest pullback towards 0.9186 or lower to 0.9145. On the other hand, the bulls will look to ride the current run of gains toward 0.9264 or higher to 0.9303.