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  |   Technicals


FxWirePro: EUR/CHF Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis: Bias Bearish

- EUR/CHF was trading rangebound at 1.0423 at around 09:40 GMT

- The pair is grinding sideways along 21-EMA support, break below will plummet prices

- Recovery attempts in the pair were rejected at daily cloud

- 5-DMA has turned bearish, momentum is bearish

- The pair closed with a gravestone Doji on the previous week's candle

- Price action has slipped below 200H MA

Support levels - 1.0417 (21-EMA), 1.0410 (5-week MA), 1.0402(20-DMA)

Resistance levels - 1.0445 (200H MA), 1.0465 (55-EMA), 1.0484 (Upper BB)

Summary: EUR/CHF pivotal at 21-EMA support. Watch out for break below for further weakness.

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