EUR/CHF Price Analysis: Bears target a 0.4% drop into the demand zone area

• EUR/CHF bears are engaging at 4-hour resistance with sights n a daily downside extension. 
• The focus is on the demand territory, some 0.4% lower.  

Further to the following prior analysis, EUR/CHF Price Analysis: Bears to take advantage of the discount, bears have indeed engaged with the price action as follows:

4-hour live market analysis

As illustrated, the price has dropped below structure and engaged sellers on a restest of the newly formed resistance within a bearish environment.

In addition, the extra conviction is supported by the head and shoulders bearish pattern. 

Prior daily chart analysis

In the prior analysis, the bearish forecast was based on a weekly M-formation and an overextended daily bearish trend that has corrected to a 61.8% Fibonacci level. 

The expectations would be for a continuation of the downside into demand, some 0.4% lower, as illustrated in the above chart. 

Live market 

As illustrated, the daily chart is bearish with price capped by resistance and below dynamic trendline resistance also.