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FxWirePro: EUR/CHF Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- EUR/CHF was trading largely muted at 0.9776 at around 11:50 GMT

- The pair is extending weakness after retrace below 200-DMA

- MACD and ADX support downside in the pair, Chikou span is biased lower

- GMMA indicator shows minor trend is bearish and major trend is turning bearish

- Momentum is strongly bearish, volatility is high and rising 

Support levels:

S1: 0.9738 (Lower W BB)

S2: 0.9637 (Oct 2022 low)

Resistance levels:

R1: 0.9826 (5-DMA)

R2: 0.9853 (200-DMA)

Summary: EUR/CHF poised to extend weakness. The pair is set to test fresh multi-month lows below 0.9713.
 

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