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FxWirePro Currency Strength Index for EUR/CHF: Bias Bullish
FxWirePro's Hourly EUR Spot Index was at 108.509 (Bullish)
FxWirePro's Hourly CHF Spot Index was at -31.2821 (Neutral)
Technical Analysis: Bias Bullish
- Breakout at major trendline resistance at 1.1745.
- Price bounces off 20-DMA support.
- RSI strong at 64 with scope to run further.
- Momentum studies bullish.
Support levels - 1.1745 (trendline), 1.1725 (5-DMA), 1.1677 (20-DMA)
Resistance levels - 1.1798 (Jan 22nd high), 1.1833 (Jan 15 high)
Recommendation: Good to go long on dips around 1.1745, SL: 1.17, TP: 1.18/ 1.1835
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