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FxWirePro: EUR/CHF Daily Technical Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- EUR/CHF was trading 0.22% lower on the day at 0.9865 at around 10:00 GMT

- The pair is extending weakness for the 3rd consecutive session

- Stochs and RSI are biased lower, 5-DMA has turned 

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

- MACD is on verge of bearish crossover on the signal line

Support levels:

S1: 0.9833 (200-DMA)

S2: 0.9775 (Lower W BB)

Resistance levels:

R1: 0.9893 (110-EMA)

R2: 0.9911 (5-DMA)

Summary: EUR/CHF trades with a bearish bias. The pair is on track to test 200-DMA at 0.9833. Break below to drag the pair lower. Bearish invalidation only above daily cloud. 
 

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