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FxWirePro: EUR/CHF Daily Outlook

EUR/CHF chart - Trading View 

Technical Analysis: Bias Neutral

- EUR/CHF was trading 0.02% lower on the day at 1.0940 at around 16:25 GMT

- The pair has slipped lower from session highs at 1.0964, upside was rejected at channel top and 50-DMA

- GMMA indicator shows major and minor trend is neutral 

- MACD is showing a bullish crossover on signal line, Stochs and RSI show bullish momentum

- Price action is above 200H MA and hourly cloud is offering strong support

Support levels - 1.0930 (21-EMA), 1.0919 (5-DMA), 1.0908 (200H MA)

Resistance levels - 1.0965 (50-DMA, Channel top and 38.2% Fib), 1.0979 (cloud base), 1.1079 (55W EMA)

Summary: EUR/CHF struggles at channel top resistance, decisive break above required for upside continuation. Retrace below 5-DMA will see downside resumption. 
 

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