FxWirePro: EUR/CHF breaches major trendline support, confirms 'Death Cross' on daily charts

EUR/CHF chart - Trading View 

Technical Analysis: Bias Bearish

- EUR/CHF extends bearish streak for the 7th straight session

- The pair was trading 0.10% lower on the day at 1.7030 at around 11:20 GMT

- Price action has broken below major trendline support at 1.0750

- Recovery attempts remain capped at 5-DMA

- The pair confirms 'Death Cross' (bearish 50-DMA crossover on 200-DMA) on the daily charts

- Momentum is strongly bearish, Stochs and RSI are sharply lower

Support levels - 1.0716 (88.6% Fib), 1.07, 1.0660 (Nov 2020 low)

Resistance levels - 1.0750 (Trendline support turned resistance), 1.0752 (5-DMA), 1.0814 (21-EMA)

Summary: EUR/CHF trades with a strong bearish bias. Bears on track to test 88.6% Fib at 1.0716.