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FxWirePro: EUR/CHF Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- EUR/CHF breaks below 200-DMA raising scope for more downside

- Momentum ic bearish, Stochs and RSI are sharply lower, RSI well below 50

- Price action has slipped below 200H MA, GMMA is bearish on the intraday charts

- The pair trades below daily cloud and Chikou span is biased lower

- MACD confirms bearish crossover on signal line and ADX supports downside

Support levels:

S1: 0.9812 (Lower BB)

S2: 0.9708 (Nov 2022 low)

Resistance levels:

R1: 0.9859 (200-DMA)

R2: 0.9897 (110-EMA)

Summary: EUR/CHF trades with a bearish bias. Close below 200-DMA will open downside for the pair. Scope for test of fresh multi-month lows below 0.97 handle. 
 

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