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FxWirePro: EUR/CHF Near-Term Outlook

Monday, June 3, 2019 7:32 AM UTC

EUR/CHF chart - Trading View

EUR/CHF hits new multi-month lows at 1.1135, bias bearish.

The pair is extending weakness for the 4th straight week.

Price action has broken below 200W SMA raising scope for further downside.

Downside has paused at 1.1152 (converged 61.8% Fib and channel base).

Decisive break below 1.1152 will see accentuation of downside.

Technical studies on the weekly charts are bearish. Next bear target lies at 76.4% Fib at 1.0950.

Support levels - 1.10, 1.0950 (76.4% Fib), 1.09

Resistance levels - 1.1152 (converged 61.8% Fib and channel base), 1.1162 (200W SMA)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-EUR-CHF-Trade-Idea-1540373) has hit all targets.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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FxWirePro: EUR/CHF Near-Term Outlook

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