Volatility is high across the currency market and there is a standoff behind a potential reversal in many of the most liquid euro and swissie currency pairs. These conditions are certainly not supportive of general range trades. This pair is made of up two currencies whose economies are closely tied. Half-sized entry orders will be set at 1.5100 which is well below the pivot.

However, resistance fritz in the frequented pivot level around 1.5125/50 will naturally stand as a point of inflection for market bulls that frequent this pair. On the other hand, EURCHF looks to isolate some of this risk.

Volatility is still excessively high and many of the market's most liquid pairings are subject to either significant breakouts or sharp reversals. What's more, interest rate risk is minimal and general risk exposure is modest. From a technical perspective, the setup behind this pair is relatively weak. To help minimize this risk, we turn our focus to EURCHF which is experiencing congestion and is comprised of currencies that are close fundamental cousins. Market conditions are generally non-conducive to range trading.

Add to this, the presence of a Fib confluence between 1.51000/20 and there is notable overhead resistance.