EUR/CHF Price Forecast: Bearish structure holds as pair hovers near 0.9300

• EUR/CHF remains locked in a descending triangle pattern, with price consolidating around 0.9300.
• The Euro remains under pressure against the Swiss Franc due to the bearish structure.
• Momentum indicators continue to reflect that bearish bias remains intact.

The Euro (EUR) is trading in a narrow range against the Swiss Franc (CHF) on Tuesday, with price action consolidating near the 0.9300 mark.

At the time of writing, EUR/CHF remains within a well-defined descending triangle pattern. The price is currently holding above support at 0.9293, the base of the triangle. A confirmed break below this level would expose the May low at 0.9280.

On the daily chart, the technical outlook remains bearish, characterized by a steady sequence of lower highs and lower lows.

If this zone is breached, further downside toward 0.9224 becomes increasingly likely.

Conversely, a move higher that breaks above the immediate resistance at the 23.6% Fibonacci retracement level of the March high-April low move, around 0.9327, could shift short-term sentiment.

Beyond this, a confluence of resistance lies near 0.9352, where the descending trendline intersects with the 20-day Simple Moving Average (SMA), followed by the 50-day SMA at 0.9360. The Relative Strength Index (RSI) on the daily timeframe sits at 41, indicating ongoing bearish pressure without signaling oversold conditions, leaving room for additional downside before a technical rebound becomes likely.

EUR/CHF daily chart

The 4-hour chart reinforces the broader downtrend, showing price action continuing to respect the descending trendline and trading beneath both the 20-period and 50-period SMA, currently at 0.9311 and 0.9328, respectively.

These dynamic resistance levels cap any bullish attempts.

The pair remains supported just above 0.9293, with additional horizontal support at 0.9280, both of which have been tested multiple times. This clustered support zone indicates the market is at a critical juncture, with sellers struggling to force a clean breakdown.

However, if bears succeed in pushing below 0.9280, it could trigger an accelerated decline toward the next major support at 0.9224. On the other hand, a break above 0.9328-0.9330, followed by a close above the descending trendline, would weaken the bearish structure and potentially initiate a move toward 0.9495, aligning with the 61.8% Fibonacci retracement level of the March-April decline.

EUR/CHF 4-hour chart