|   Technicals


  |   Technicals


FxWirePro: EUR/CHF consolidates above 20-DMA, scope for upside resumption

EUR/CHF chart - Trading View 

Spot Analysis:

EUR/CHF was trading 0.05% higher on the day at 1.1051 at around 07:35 GMT

Previous Session's High/Low: 1.1060/ 1.0995

Previous Week's High/Low: 1.1094/ 1.0992

Technical Analysis: Bias Bullish

- Price action closed above 21-EMA on Wednesday's trade

- Pullback has bounced off 55-EMA support

- 5-DMA has turned, RSI has edged above 50 mark and is biased higher

- Stochs are on verge of bullish rollover from oversold levels

- Price action is above the daily cloud and Chikou span is biased higher

Support levels - 1.1043 (20-DMA), 1.1032 (21-EMA), 1.1017 (5-DMA)

Resistance levels - 1.1099 (Upper BB), 1.1100, 1.1146 (200W MA) 

Summary: EUR/CHF trades with a major bullish trend. Price action is set to resume upside after pair closed above 20-DMA in the previous session. Scope for retest of 200W MA at 1.1146.

  • Market Data

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.