EUR/CHF chart on Trading View used for analysis
- EUR/CHF struggles to extend upside, long upper wicks on candles suggest selling pressure at highs.
- The pair remains capped below 21-EMA which is stiff resistance at 1.1275.
- Price is extending grind below daily cloud and we see scope for test of double bottom at 1.1183.
- Break below will see further weakness. Next major support lies at 200W SMA at 1.1072.
- On the flipside, 5-W SMA is capping gains. Break above could see further upside.
Support levels - 1.1183 (double bottom), 1.1072 (200W SMA)
Resistance levels - 1.1275 (21-EMA), 1.1342 (100-DMA)
